"Both local and out-of-town developers see Rotorua as a good place to invest and have confidence they are getting their money's worth with developments."
McRae said Pukeroa Oruawhata was doing a lot of work and had made it known to the public they wanted to see a five-star hotel in town.
"I know there are a lot of investors keen to see this happen.
"I believe 2018/2019 will be great for development and growth within the Rotorua district."
Pukeroa Oruawhata general manager Peter Faulkner said the $30 million Wai Ariki project was one of two prime focuses for the trust this year.
"We expect excavation for the building and geogrid test to begin soon," Faulkner said.
"Once done we will pre-load the site and monitor for any subsidence. All going well, we expect building to commence in August/September this year."
The second was the completion and opening of the Kmart development.
"The trade centre is substantially complete. Kmart take possession on February 1 and have targeted March 15 as the opening."
He said between now and March 15 there were minor site works to complete including the car park on the southeast side of the entry.
"A number of smaller tenants will also open on March 15."
Faulkner said on the residential side, seven residential houses were to be built as part of the trust's ongoing commitment to expand the number of available homes.
Deputy mayor Dave Donaldson, who holds the economic development portfolio for the Rotorua Lakes Council, said he was aware of several new and ongoing developments that would benefit the city.
"I know Crankworx are relocating and upgrading the pump track this year," Donaldson said.
"From what I understand the site plan has been signed off and organisers are kicking in to have things ready for the March event."
Crankworx event director Ariki Tibble confirmed the pump track would be relocated within the Skyline site in 2018.
"Every year we take on board a huge amount of feedback from competitors and spectators in an effort to raise the bar," Tibble said.
"As a result of that feedback we have decided to relocate the pump track for three separate reasons.
"The first is the new Skyline site allows for bigger capacity, the second is the event has been moved to a local's night meaning locals can come for free, and the third is the kidsworx arena will relocate to the former pump track at Skyline."
The Crankworx team are also looking for a site to construct a $30,000 dual slalom mountain biking course which will become a permanent asset for the Rotorua community. Tibble said the search was continuing.
Donaldson said the Scion site upgrade was under way and was one of a number of projects the Rotorua-based Crown research institute was taking on in 2018.
Scion chief executive Dr Julian Elder said Scion started a campus redevelopment beginning with renovations of existing working spaces last year.
"The centre of the redevelopment is an innovation hub for forestry, manufacturing and energy innovation, which is currently in design phase," Elder said.
"The hub will support district and regional economic development, and spill over to national benefits.
"For Te Papa Tipu Innovation Park tenants the campus redevelopment will provide shared spaces for growing businesses, opportunities for industry to collaborate and co-innovate, testing facilities, laboratories and modern, fit-for-purpose working spaces for staff. The three-year development is the largest at Scion for many years, costing an estimated $18 million."
Donaldson said Rotorua Lakes Council developments included the $3m extension and redevelopment of Jean Batten Square which was on track for a February 2 opening.
"Also the tender has been let for the Lake Rotoiti and Lake Rotoma sewerage scheme which will ultimately provide an opportunity for development in those areas."
He said a number of iwi had plans for what could be done.
"The wastewater treatment upgrade is also part of council's big moves that were signalled in last year's long term plan."
The $4.9m Rotorua Airport redevelopment would also be happening in 2018 with an anticipated completion time late in 2019.
"There are also a number of developments throughout the region that have started but are either not yet completed or under-utilised. The weather made things hard for a number of projects last year."
He said the NZ Transport Authority was also investing millions into the region with upgrades of the Sala St and Tarawera Rd roundabouts and the Hemo Gorge roundabout.
"As far as private development goes there is the Zen building being developed by the Chow brothers and run as a Pullman Hotel although I'm not sure what stage that is at," Donaldson said.
"A couple of Tony Bradley development signs have popped up round town and I understand he is keen to crack on with at least one of those projects early this year."
Accor Hotels director of marketing Lucy Acott said the programme schedule for transforming the former Zen Building is on track with the opening of the 5-Star Pullman Rotorua planned for the end of the year.
"We're both really excited by the significant economic contribution and boost for tourism this hotel will bring to the region," Acott said.
Donaldson said he believed there were constraints on development within the construction sector as many businesses and organisations were struggling for capacity.
