He says: "Tenants are now being sought to be included in stage two. This is a major upgrade which will make Devonport more of a destination for day trippers whether they're Auckland-based or just visiting."
It will also make the suburb a more attractive proposition for house buyers.
Smith says: "Devonport is still incredibly good value for money and you get a lot of bang for your buck compared to other elegant picturesque residential areas throughout Auckland.
"For this reason we're creating more robust marketing campaigns that capture people looking to buy in other areas who hadn't considered Devonport and are delighted to learn what their money can buy."
Victoria Bidwell, of Bayleys, says Devonport is made up of different markets. She says that at Cheltenham you have people who want proximity to the beach while at Stanley Point the school is popular with young families who also like the bigger houses on bigger pieces of land and the sea views.
Bidwell says it is hard to find anything in Cheltenham under $2 million, with most places selling for between $2.75 million to $3.5 million.
She says young couples looking to get into the area are buying two-bedroom units, and a decent example would cost around $850,000.
One of Devonport's icons is North Head, which was settled hundreds of years ago by Maori but wars accounted for the last significant population in the late 1700s.
Europeans settlers arrived around 1840, and the suburb was initially called Flagstaff but was renamed Devonport after the English naval town when a base for the Royal New Zealand Navy was established.
With its character villas and bungalows, Devonport is an established suburb that appeals to Kiwis and foreigners, especially European immigrants.
The seaside suburb has beautiful beaches such as Cheltenham and volcanic cones such as North Head, an intriguing slice of history with its gun emplacements and tunnels as well as providing beautiful views of the Hauraki Gulf.
There are two sailing clubs, an 18-hole golf course and the historic village and shops include a variety of restaurants, cafes, galleries and five-theatre cinema.
Devonport's appeal also lies in the fact that is in the catchment for high-decile schools and has one of the lowest crime rates in the country.