Northland Port given OK for Marsden Cove project

Northland Port Corporation said it has approval from Conservation Minister Chris Carter for its Marsden Cove marina and residential development.

Northland Port Corp (NPC) chief executive Mike Daniel said Mr Carter's approval of Restricted Coastal Permits for the development opened the way for construction to start in the next few weeks.

It was hoped some residential and retail sites, and marina facilities could be offered for sale by the middle of this year.

NPC expected the project to take up to 10 years and would produce about $250 million in revenue for the joint venture.

Marsden Cove Ltd is a 50/50 joint venture between NPC and Hopper Developments -- the developer of waterway beach subdivisions at Pauanui and Whitianga.

The 130ha development will include 700 housing allotments, a canal network, a 250-berth marina and a commercial area with cafes and bars.

NPC shares rose 10c to $3.05 in late morning trade today,

- NZPA