A $29 million development, featuring 27 luxury inner city apartments, is expected to set a new record in Tauranga property sales.

The six-storey Latitude Residences apartment complex on Park St was being developed by TYBI in partnership with Form Construction, Ignite Architects and Veros Property Services.

Ray White marketing agents Ian Grindle and Rodney Fong said the development was seen as another indicator of the revitalisation of the city centre and will meet the growing need for quality inner city residences.

"One of a number of city centre residential developments, Latitude Residences will meet a growing need in the market. The city and region's fast-paced growth means more and more out-of-towners and locals are looking for residential options that put them in the heart of the city within easy reach of all of the amenities on offer, and afford them a lifestyle that is all about convenience, security and refinement."

Advertisement

Mr Grindle said Latitude Residences offered modern, secure, lock up and leave living.

"What's more it sets a new standard in quality living in the Bay.

"Residents will be able to walk to restaurants, cafes, bars, the theatre, waterfront, city centre amenities and shops. There are good quality medical amenities close by and, with the Mount lifestyle, beaches and the airport just over the bridge, it will certainly be an easy and attractive property to market."

Featuring one, two and three bedroom options, with studies, decks and parking facilities, the development is set to redefine inner city living.

Veros Property Services development manager Sunil Hira said the development was reflective of the growth and maturity of both Tauranga and the city centre.

"Aligned with Tauranga's fast-paced growth and the city centre revitalisation is a growing demand for inner city living options. Investment in quality developments like Latitude Residences meets this need."

Priority One chief executive Nigel Tutt said Latitude Residences was one of a number of planned developments that are starting to meet the growing demand for inner city living as the population of Tauranga increases and diversifies.

"Medium to high density residential developments on the city fringes are essential if we want to see Tauranga grow into a vibrant and contemporary city. Developments of this kind will also result in increased public and private sector investment in amenities and activities to support the city centre and create an area that is increasingly attractive to local people and visitors alike."

Expressions of interest with the Latitude Residences apartments would be released to the market on June 21.