A new $100 million-plus food and dining, office and apartment precinct has been announced for a waterfront site at Hobsonville Point on Auckland's north-western fringe.
Mark McGuinness, managing director of developers Willis Bond, said construction of the Catalina Bay project had started, creating space for food and beverage services, 6000sq m of offices and up to 80 apartments.
Willis Bond is buying 1.8 hectares of state-owned land for the scheme, due to settle in stages in the next three years, he said. But he refused to say how much his business was paying for the Government-owned land.
"There was a competitive process at the outset and we were one of several bidders. An investment of over $100 million begs the question of whether that's state business of the Government to develop a seaside village," McGuinness said.