Seventeen shoppers and assistants were killed, including a boy from Hastings High School who had gone to buy a school cap. As well, a blaze broke out in the rubble.
The corner of Roachs remains there today - TSB Bank sits on the site.
The facade also remains but the extensive renovations and seismic strengthening Wallace Developments did were not enough to save the interior - the concrete structure needed to be demolished because of past modifications.
The new interior echoes old Roachs - it features the same column spacing because the building was repiled.
Special augurs were needed, because of the height restriction of the floor above, to drill 200 foundation holes to a depth of 8m.
Hastings District Council Mayor Lawrence Yule said building inspectors were impressed with the auger innovation and neighbouring businesses were spared the disruptive thumping that traditional pile-driving caused.
Mr Birkhead praised TSB Bank staff for tolerating the work around and above them.
"They have been fantastic with all the noise and dust. They even put up with a leak in their roof when we were working on it."
Once the building is completed, ownership will transfer from Wallace Developments to a syndicate of owners.
Wallace Developments moved its head office to Hawke's Bay from Palmerston North six years ago, when Jonathan Wallace moved for lifestyle reasons. Most of its projects are outside Hawke's Bay but the company recently completed the new Freedom furniture store in Hastings and will start on the Napier Farmers redevelopment in July.
With 30 years under his belt, Mr Wallace said it was contacts and experience that helped him to secure the Hastings Farmers deal.
"We knew Farmers had a need - that's what we do - try and find people who have a need for a commercial premises," he said.
He approached Farmers and learned what they wanted.
"It is difficult to get a good pedestrian count plus the scale - that was the difficulty of their requirements. Unfortunately, you don't find a paddock sitting around in these kinds of locations."
An offer was made to the two owners of the site and the tenants moved - except for TSB Bank, which opted to remain.
Mr Wallace said it took 8-9 months to put the deal together.
An escalator in the development is a Hawke's Bay first - more than 100 years after they were invented.
Gemco general manager Ashley Hartley said one was mooted for Napier but the economic slowdown of the late 1980s put an end to the plans.
