A $29 million development featuring 27 luxury inner city apartments is expected to provide a further boost to Tauranga's CBD.

The new six-storey Latitude Residences apartment complex in Park St is the latest in a series of apartment buildings underway in the city centre which will create almost 100 new apartments.

It was being developed by TYBI in partnership with Form Construction, Ignite Architects and Veros Property Services.

Ray White Tauranga director Ian Grindle said the development was an indicator of the revitalisation of the city centre and would meet the growing need for quality inner-city residences.


"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."

The development would have one-, two- and three-bedroom apartments with studies, decks, inner harbour and Mount views and parking facilities.

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

Priority One Chief Executive Nigel Tutt said Latitude Residence was one of a number of planned developments starting to meet the growing demand for inner-city living as the population of Tauranga increased 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."

Tauranga Chamber of Commerce chief executive Stan Gregec said this was "just what the doctor ordered" to breathe life into Tauranga's city centre.

"Bring it on is all we can say. More people living in inner-city apartments is a key indicator of a flourishing CBD.''

Once students were added into the mix, the city would come alive, he said.

''That will be a huge boost to retailers and restaurants."

House of Travel Downtown Tauranga owner-operator Shane Kennedy said the city was playing catch up but news of the development was great.

''The main difference between the Mount retail and Tauranga is it has got residents right on its doorstep. Once you get people living in the heart of the city, the city just thrives around it.''

Mr Kennedy had also put his money where his mouth was and would be moving into an apartment in the CBD, he said.

Tauranga Mayor Greg Brownless said the CBD was the right place for apartments.

People could soak up the atmosphere of the waterfront and social type living, he said.

''I think it's important the city has a mix of options for those that want to live in apartments and people who want a section in the suburbs. It's all about choice.''

Planned inner-city apartment developments
Latitude Residence: 27 apartments
Quest boutique apartment hotel: 42 apartments
One Selwyn: 19 apartments
Beeches on Monmouth: 6 apartments
107 Wharf St: 4 apartments