Mount Maunganui is starting a new growth spurt and several hundred apartments worth a total of $130 million are being built over the next 12 months.
Sunday, January 2nd 2005, 1:47AM
by The Landlord
Nine projects are being marketed in the holiday town this summer and two-thirds of the apartments have been sold.
The blocks will add 220 apartments and many ground-floor shops to the downtown Mount area.
They will provide permanent living and visitor accommodation, and range in size from 76sq m to 300sq m.
They are selling for between $400,000 and $3 million.
The apartment-building boom comes after a lull of nearly two years.
Developer Bain McDonald, who is behind three of the nine projects, said people who believed the Mount should never change would not like the new developments.
