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Auckland developer David Henderson has ditched plans for an apartment tower on his CBD site.
Instead, he now plans an office block at the corner of Albert St, Swanson St and St Patrick's Square.
This is the third change of plans for the corner site opposite ANZ Tower and is partly a response to a shift in Auckland's apartment market, where demand for units away from the waterfront has dried up.
When the apartment market was booming two years ago, Henderson proposed a 35-level tower with two vacant upper floors to reduce wind loadings.
Earlier this year, he unveiled a 27-level block, The Stanley, on the Angus Steak House site. He named the project after his father.
In April, staff at his Kitchener Group were selling Stanley units off the plans for $1.4 million to $3.2 million.
Now, Kitchener is planning a 16-level office building on the site, citing a shifting apartment market and more demand for commercial premises in the CBD.
Kitchener also owns the high-rise Precinct apartment project opposite Albert Park, where a penthouse apartment has just fetched $1.7 million.
