88 | Maungatua Developments DEVELOPMENT multi unit developments Smaller homes with broad appeal T T Russell Fredric Close to St Kilda Beach, St Clair, shops and everyday amenities, Victoria Mills places 12 compact homes within an established and well-connected Dunedin suburb. Maungatua Developments director, Mark Fahey, says the corner site at Victoria Road and Mills Street had been available for some time before he fully realised its potential. The more than 700sqm site is being developed with 12 single-level homes, ranging from 36 to 38sqm. Their compact, apartment-style format reflects the type of housing already established in the area, Mark says. “I’ve done previous ones with similar size. They worked out really well for that area because there’s already quite a lot of that size units around that area. So it’s smart to actually keep things aligned like that, and it fits well with the established housing pattern in the area.” Each home has one bedroom and one bathroom, with an open-plan kitchen, dining and living area. Sloping ceilings provide additional volume, while built-in storage and wide bi-fold doors help make efficient use of the floor area. The living spaces open onto north-facing decks, providing an outdoor area, without requiring the larger sections associated with conventional housing. Priced from $439,000, the homes are intended to provide options for several types of buyers: their compact size and location can work for investors, first-home buyers and retirees looking to reduce their housing costs while retaining capital. “They are priced so that the yields are good for investors. The yields actually stack up because the expected rental return should make sense for investors,” says Mark. Location is a key part of the development’s proposition, with St Kilda beach and St Clair nearby, along with supermarkets, schools, shops, eateries and Andersons Bay Road within easy reach. A bus route runs directly outside the property, while the flat surroundings suit cycling and e-scooters. “It would be a great second option to St Clair for example. It’s pretty close to everything really,” says Mark. The homes are designed with running costs in mind. Their compact footprint makes them efficient to heat, with high-wall heat pumps, more insulation than required by the building code, and a rigid air barrier helping create a well-sealed building envelope. Victoria Mills is Maungatua Developments’ sixth development of its own. Mark has undertaken other projects for clients involving design and project management, while generally preferring to build one of his own developments each year. The former derelict buildings on the Victoria Mills site have been demolished and the property cleared, leaving it ready for construction. Mark acts as the lead developer and contracts the work to specialist trades, with Sam Cross Builders as the main building contractor and independent subcontractors undertaking associated trades. The project has been consented under the medium-density planning provisions. Mark says working with council’s urban design team has helped shape the development. “We’re not just conforming to the actual written planning rules, but the overall style and liveability of the unit, which includes a well-insulated building envelope.” Victoria Mills has now been released to the market, with several enquiries received through social media before the wider campaign begins. Construction is expected to start in the coming months, with completion targeted for August 2027. Each home has one bedroom and one bathroom, with an open-plan kitchen, dining and living area. Proudly working with Maungatua Developments Ltd House site preparation • Driveways • Metal and soil cartage Section clearing • Landscaping • Digger Hire
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