The former Bella Vista properties are being sold as Tauranga City Council looks to move forward and recover money for ratepayers.
From today, the council is seeking ‘registrations of interest’ from developers as it aims for the best possible return for ratepayers on the open market.
Developers who express interest will be short-listed by early February, with sale negotiations expected to begin soon after.
“It’s time to make a fresh start at the subdivision,” said the council’s General Manager: Strategy and Growth, Christine Jones.
“This will allow us to recoup money for ratepayers while supplying more homes for our rapidly growing city.”
The subdivision’s 22 properties are being sold as one package so the buyer can manage the building of a retaining wall to suit their redevelopment. The lack of a suitable retaining wall is one reason why the council evacuated the properties.
The last two Lakes Boulevard homes are being removed. As part of a new beginning, Aneta Way will be re-named. Its homes will be re-clad, and they will sold as part of the overall package.
The council ordered the Lakes subdivision to be evacuated in March last year after it had been partially built by the now-liquidated developer, Bella Vista Homes.
After finding dangerous problems at the subdivision, the council paid $14 million to buy the properties from homeowners. This was partially offset by a $10.55 million insurance payout.
Although the final sums won’t be known until negotiations are finished, the subdivision’s sale is expected to contribute substantially towards the outstanding costs.
Since Bella Vista failed, the council has improved its policies, procedures, training, enforcement and processes around consenting earthworks.
The council is prosecuting through the courts some people who were involved with the subdivision.