Some 70 per cent of the luxurious apartments, which will nestle into the last large stretch of waterfront lakeside landscape close to central Wanaka, have already sold.
Thirty-five of Marina Terrace Apartments' 50 apartments spread across six buildings have sold off the plans.
Managing partner of developer Multiplied Investment Partners, Matt Tuck, says: "Marina Terrace Apartments are five-star luxury apartments designed to really engage with the lake and the mountains and all that Wanaka has to offer.
"Our site is only about 300m from the CBD of Wanaka. It is really the last piece of available land within 5km of Wanaka on the lake edge.
"It's right on the water's edge with the Wanaka Marina and the boat ramp just across the road. It's a big site of about 13,000sq m, three acres if you like, which had never been built on before so required a development of some scale to make it work."
Architect Mason and Wales, which has designed many high-end properties around the area, was chosen through a selection process, which also considered two high-profile Auckland-based practices.
Matt feels its architects are particularly in tune with creating spaces that interact beautifully with the surrounding Wanaka outdoor environment.
Having six smaller buildings organised in two rows will encourage this, complemented by landscaping and burbling water features fed by natural springs.
Core construction will be concrete and steel, with abundant glass, schist, cedar and aged copper detailing.
All apartments have covered balconies, about half of which incorporate outdoor gas fireplaces.
Double glazing uses low radiation sun-resistant glass in thermally broken joinery to avoid heat transfer.
Buildings in two rows set into the landscape will enable all apartments to luxuriate in the outlook.
Matt says: "People in ground-floor apartments in the back row are able to see over the roofs of the front buildings to the boats and the marina."
Site aspects include looking out over Ross Bay to Roys Peak and Mt Alpha, up the lake to the Southern Alps and across the lake and across town up the Cardrona Valley.
A separate building will enclose a heated swimming pool, children's pool, gym, sauna and plunge pool.
Owners have the option of putting their apartments into a managed rental pool run by an on-site manager and served by a reception facility.
Matt says layouts facilitate a three-bedroom apartment being rented as a two-bedroom apartment plus a one-bedroom hotel-type set-up.
Three different interior decor schemes can be viewed in a new home nearby. Interiors feature French oak flooring, Feltex carpets, gas fireplaces plus integrated air conditioning.
Kitchens feature stone waterfall end islands and harbour Fisher & Paykel appliances.
All apartments have carparking either in garages or basement carparks and open-air spaces.
Buyers include some Aucklanders looking to move or retire to Wanaka. Some independently wealthy middle-aged couples soon to be empty nesters will live here six months of the year, wintering in the Northern Hemisphere.
Matt has worked on Auckland developments but happily bases his family in Wanaka's friendly community, appreciating splendid skiing and mountain biking trails and the contrasting seasons.
He says: "It's an amazing place to live."
These apartments close to Wanaka's shops, cafes, restaurants and supermarket will be within 30 minutes' drive of top ski resorts Cardrona and Treble Cone and within an hour of Queenstown Airport.
Construction, spread across three stages, has started. Stage one's 18 apartments are scheduled to be finished in February 2019.
Construction of stage two's 16 residences and pool complex are scheduled for completion in August 2019, and stage three's 16 apartments in February 2020.