ON OFFER
91 freehold apartments with balconies in a five-level building with internal atrium courtyard and cafe. Most have additional storage space. Up to two stacked basement parking spots per apartment are $40,000 each.
A: 35 one-bed, one-bath, from 50.4sq m (plus 8.1sq m balcony); from $375,000, plus parking.
B: 44 two-bed, one-bath, from 63.5sq m (plus 8.1sq m balcony); from $495,000, plus parking.
C: Eight two-bed, two-bath, from 68.5sq m (plus 8sq m-25.1sq m balcony); from $580,000 plus parking.
D: Four two-bed, two-bath plus study, from 83.7sq m (plus 27.2sq m-39.7sq m balcony); from $785,000 including parking.
BODY CORP:
Indicative estimate $1900-$4700 a year.
INSPECT:
Display suite noon to 4pm daily at 32 Rosebank Rd.
SCHOOL ZONES:
Avondale Primary, intermediate, and college.
CONTACT:
Angie Cheng, Colliers, 0800 356 2787.
Avondale's first substantial apartment building largely offers affordable homes but even its entry-level offerings get treats.
The two-stage 91-unit Flo Apartments will replace Avondale's RSA building and some neighbours with architecturally designed one- and two-bedroom apartments. One-bedroom apartments without car parking start at $375,000 and get a balcony, a double-headshower and a kitchen with soft-close drawers and an engineered stone bench.
Developer Jon Sandler, previously behind some pricier holdings, likes the building's external aesthetic and that every apartment shares the tranquil central courtyard.
He's upfront about needing to make a profit but explains he gets some cost savings as this is one of the new Special Housing Areas (SHAs) agreed by Government and Auckland Council to fast-track new housing.
In return for a minimum of 10 per cent of apartments qualifying as "affordable" he gets early adoption of the Unitary Plan's density rules and fast-tracked resource and building consents. This represents significant time and cost savings for a project of this scale.
Jon says: "To be considered affordable apartments have to be under $578,250, which was 75 per cent of last December's median Auckland region house price.
"We actually expect about 60 per cent of these apartments to come in under that price."
The Young & Richards-designed concrete building isn't solely focused on affordability though. The swankiest of 16 upper-level penthouse apartments tops $1-million and gets a large deck.
Jon has previously favoured retaining ownership of his builds. His on-sold projects include a Herne Bay apartment-terrace-retail mix at 158 Jervois Rd opposite BP.
"We chose the name 'Flo' here because of the great flow of views, light, fresh air, transport and facilities around this corner site. It's on a ridge giving some apartments views to the Waitakeres and the waters of Upper Harbour.
"The Avondale train station just up the road delivers you to Britomart in 24 minutes. You can walk to the Avondale Markets or drive to LynnMall's cafes and cinemas in seven minutes."
Image 1 of 5: One of Avondale's first apartment block developments is about to get under way. Images / supplied
He says: "Avondale's been my 'patch' for about a decade because it's city-fringe sensible buying on an upswing. There are plans to upgrade Avondale central, building a new community centre and library."
Stage one's 91-apartment building will replace a house and units. Stage two, expected to be similarly sized, will sit on the adjoining site the RSA moved from after membership reduced.
Northern and western-facing residences in the first cube-shaped building get water views from level three up.
Apartments wrap around the central courtyard atrium upping interior light regardless of orientation.
Jon is still taking advice on the most "bullet-proof" tree to accompany the courtyard's sizeable shallow water feature.
He says: "It'll be very Zen-like, a place to come and sit after a hard day at work."
An on-site bike shed and the nearby train station make living car-free viable so apartments come with zero to two parks priced at $40,000 each. Ground-level will have a cafe and will fit about 70 vehicles through car stacking and have storage areas for many apartments.
Interiors feature engineered wooden flooring, Feltex carpet, Methven taps and Fisher & Paykel ovens, cook-tops and dish-drawers.
Initial interest has included down-sizers, Dinks (double-income-no-kids), singles and parents buying to house children at university. Jon knows first-home buyers struggle to get onto the property ladder and points out new-builds, including these apartments, demand a smaller 10 per cent deposit.
Stage one building is expected to start this August-September targeting October-November 2017 completion.
