Tough economic times have taken their toll on Perron Developments Auckland which said yesterday that it had no new building projects.
Perron has sold a city site where it planned to build Verve, a block of 80 apartments on 17 levels.
The developers have also put on thebackburner big plans for Takapuna, where a huge project was proposed. Within the next fortnight, Perron will finish the 170-unit Stadium apartments on Beach Rd in the city.
Mark Perriam of Perron said the firm was not starting any new building projects but he rejected speculation that the development business would be shut or liquidated.
"I think every property developer in the country is retrenching. We're just in that position of adapting to the change in the market. We're not starting anything new at the moment until we see a change," Perriam said.
The business, started in the early 1990s, had a number of properties it could develop but the economic climate would have to change, he said.
"We've got a range of things we'll continue to do," he said.
Verve, approved on a non-notified basis, was to be at 29-31 Eden Crescent and Perriam said it had been sold with permission to build the block.
Plans were opposed by the Official Bay Heritage Protection Society whose members include residents in neighbouring properties on Waterloo Quadrant and Parliament St.
Perron marketed Verve as offering a great lifestyle.
"Designed by the award-winning architectural firm Architects Patterson, Verve has been tailored to take full advantage of its unique and exclusive site and to provide a spacious, bright, warm and airy living environment."
Perriam said furniture would soon be moved into the 10-level Stadium apartments.
Many Blue Chip investors have bought places there but High Court action is attempting to stop the deals.
In 2006, Perron got two prizes in the Property Council Rider Hunt Property Awards which recognise outstanding property developments.
