Meadows project opens with 30 sections sold
Sections just released in The Meadows development in Hamilton are the first of 450 planned for the burgeoning River Rd North area.
Thirty of the large sections in stage one of the project have sold, though not at the breakneck pace seen in November, when 56 Rototuna sections flew off the books in less than a day at the Horsham Estate.
Eleven Meadows sections have still to find owners, said marketer Craig Reid, of Lugtons. Prices start at $235,000.
Many of the Meadows sites, which are behind the Eton subdivision, which in turn is behind Woodridge off River Rd, sold to builders last year.
Stage two of 24 sections will be released in May, said developer Colin Litt, of the Ryvington Trust. The family trust owns the 60ha former dairy farm on which The Meadows is being developed.
Stage three, comprising 61 sections, will be on the market around Christmas.
The balance of the property will continue to be farmed until the full development is completed, which could take 10 years depending on demand for sections, Mr Litt said.
Earthworks for The Meadows, currently accessed from Hare Puke Dr off Cumberland Dr in Eton, started in December last year. Eventually the development will stretch through to Kay Rd.
Stage 3 will feature several gully sections, Mr Litt said.
A feature of the subdivision is an 8ha park, which the Hamilton City Council is buying from the family trust.
- © Fairfax NZ News