Auckland housing project in limbo

Springpark, Auckland's first proposed mass affordable housing project.

Plans to build more than 150 homes at one of Auckland's largest new housing estates are up in the air now the firm behind Springpark in Mt Wellington has gone into receivership.

Receiver Dave Ruscoe confirmed yesterday he and Richard Simpson had been appointed receivers and managers of Panama Road Developments, which is behind the first stage of the 10.3ha Springpark project.

Developer Tony Gapes revealed plans in 2013 for an eventual 420 terraced homes with three- to four-storey apartments, but the project has been affected by delays.

Auckland first-home buyer Tristan Lomberg invested in a three-bedroom home on the estate and was shocked yesterday to hear of the financial troubles.

Two years ago, he and his wife put down a $46,000 deposit for an upmarket new dream home and were expecting it to be long finished and for them to be living there. He now hopes Springpark is sold and perhaps the place can eventually be built.

"For us the best-case scenario is it gets sold off to developers who honour the contract. Even that means another year's delay, but we'll see," he said.

The couple hunted extensively two years ago, saying Springpark, near Sylvia Park, seemed the best they could afford or find.

"We've been looking around for a reasonable time and wanted to live in East Auckland but it's really expensive," Mr Lomberg said. "We did not want a do-up."

The project is at 33 Panama Rd in Mt Wellington, where Mr Gapes said numerous issues resulted in the Singaporean financier calling in receivers.

"I just feel sorry for all the purchasers and them not ending up with houses."