But news the block had the go-ahead sparked disquiet among the commercial real estate investment community. Colliers research manager Chris Dibble was yesterday fielding inquiries about whether it would have offices. A spokesman for the mayor's office said commercial offices were not in the plans.
No buildings have stood on the corner site since the 1980s when Chase Corporation demolished the Royal International Hotel to make way for a Farmers. The 1980s sharemarket crash ended those plans and carparking and a bungy jump have been using the site.
Mr Brown said the tower would transform the area and enhance his planned Central Rail Link.
"Alongside the Sky Tower, this will be a world-class development for Auckland that will create hundreds of new jobs, energise the CBD and boost Auckland's GDP, through a more than $350 million investment by NDG," he said. "It's also an example of the major commercial opportunities created by the City Rail Link project. To date the private sector has confirmed more than $1 billion of new investments along the proposed route, including Precinct Properties' downtown retail and office development ($300m+), the NZ International Convention Centre ($400m+) and Elliott Towers ($350m+)."
Mr Brown's office released a list of new projects, including Precinct Properties' plans to redevelop its Downtown Shopping Centre.
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