Heady heights in Albany

Just like the Viaduct - except without the water. That is the comparison the Cornerstone Group's planned Albany City development is drawing.

Construction on the 48-hectare site on the North Shore could begin as early as May when council regulations allowing extended development are expected to come into force.

Current rules limit the height of buildings to 18 metres, but changes will allow up to 30 storeys.

Cornerstone, although it will not build on the site itself, has already applied for planning permission for a tower that height.

The development company has an overall design plan and will retain control and ownership of the land, but it will lease sites to other investors who will build according to the central plan.

A mix of retail, office and living space is expected.

Cornerstone bought the site for $250 million.