Tauranga City Council has reached a conditional agreement for the sale of 22 properties associated with the former Bella Vista subdivision.
If the sale goes ahead, locally-based Classic Group, owner of Classic Builders, will ensure that a number of homes will be built at the desirable Lakes area, helping to cater for Tauranga’s fast-growing population.
“We’re pleased to have reached this agreement with Classic,” said the council’s General Manager: Strategy and Growth, Christine Jones.
“It is satisfying to know that a reputable local employer will develop these properties to provide housing for our city.”
Classic Builders is the largest residential builder in the Bay of Plenty and has been building homes at The Lakes since the development’s inception.
“We have a vision for the site and will work to achieve a positive outcome for the future homeowners at the site,” says Classic Builders Director, Matthew Lagerberg, of the rebuild plans.
The council ordered the site to be evacuated in March 2018 after it had been partially built by the now-liquidated developer, Bella Vista Homes.
Last December, the council sought ‘registrations of interest’ from developers to achieve the best possible return for ratepayers on the open market.
Developers who expressed interest were short-listed early this year, and a conditional sale agreement was signed last month.
The subdivision’s 22 properties have been sold as one package to make it easier for the buyer to build a retaining wall through the site. The lack of a suitable retaining wall is one reason why the council evacuated the properties.
The sale price will remain commercially sensitive and confidential until the agreement goes unconditional early next year.
The council has prosecuted through the Courts some individuals who were involved with the subdivision. The Court decision is pending.