A Melbourne-based property developer has been given the go-ahead to build one of New Zealand’s tallest residential buildings in Auckland.
ICD Property has got resource consent from the Environmental Protection Agency under the Covid-19 Recovery (Fast Track Consenting) Act to build a 183 metre-high skyscraper at 65 Federal Street, a few doors down from the Sky Tower.
The projected value of the fully completed building is $664 million.
Construction is expected to start in 2024 and be completed in 2027, with the final cost dependent on ICD securing a building partner.
It would be the country’s second tallest residential building behind Seascape (187 metres high), which is currently under construction.
The 55-storey building will include 357 apartments, a health and wellness centre, and a 1000sq m ground floor marketplace that will feature a range of restaurants, cafes and other outlets.
ICD Property managing director Matt Khoo says it took a collaborative approach with Auckland Council and mana whenua to ensure the building delivered positive benefits for the city, rather than being restricted by planning guidelines.
“The aspirational design, thinking and consultation that went into the project is a blueprint for better urban design outcomes for not only New Zealand, but buildings and communities globally,” Khoo says.
The company says the building’s plot ratio — the total floor area of a building compared to the area of its site — is 29:1, which is significantly more than the typical ratio of 13:1 on inner-city sites.
The greater ratio would maximise the potential of the plot of land, the company says.
Outgoing Auckland mayor Phil Goff says the building would be “a landmark” for the city.
“It is a huge investment, which is a statement of investment confidence in Auckland. It will provide hundreds of jobs during and beyond construction,” Goff says.
The building was designed by global architecture firm Woods Bagot, in partnership with local firm Peddlethorp.
Woods Bagot principal and design leader Peter Miglis says the transformation of Federal Street and the tower’s proximity to the City Rail Link meant it would become a public destination.