New housing subdivision on the market
The urban growth of Hamilton's satellite townships is gathering momentum – with plans announced this week for the sale of a new 47 dwelling development in Cambridge.
The 12,881 square metres site overlooking the Waikato River is on land once occupied by the Cambridge Riverside Motel complex. Consent has already been granted by Waipa District Council for the construction of the 47 townhouse dwellings in a range of two and three-bedroom configurations.
Access to the new development will be from Williamson Street, with additional land being accessible from Dominion Avenue. Demolition of the motel has been undertaken in preparation for construction, with existing utility services – including waste water, telecommunications, electricity and gas – ready for connection.
The new area – a short stroll from Cambridge town centre and overlooking the Waikato River – is to be known as Cambridge Riverside. The freehold bare land in three titles and consented architect's plans are being marketed for sale by tender through Bayleys Hamilton, with tenders closing on March 16.
Bayleys Hamilton salespeople Mike Swanson and Rachel Waldegrave said the planned residential enclave up for sale had been laid out into seven different sectors up to four storeys high – each with parking at ground level.
“Dwelling design includes a mix of apartments and terraced homes which have been marketed as unit titles. Home options range in size from 100 square metre two-bedroom apartments to spacious 3 bedroom townhouses and a luxury 335m2 Penthouse. Every unit will have its own deck space too,” Mr Swanson said.
“Cambridge Riverside will be the first development of its type in Cambridge as the township evolves from being a traditional rural support services locale into a satellite urban semi-suburb serving Hamilton.
“In parallel with this population growth, combined with societal changes to how people live, the Waikato will see more of this urban densification taking place in the region's towns.”
Waipa District Council's Waipa 2050 long-term urban development plan forecasts that in 33 years, Cambridge will have a population of between 24,000 – 25,000 – up from the 13,000 residents recorded in the last 2006 Census. As a consequence, Cambridge will be the most populous town in the district.
The Waipa 2050 report highlights that 385 hectares of new residential land will have to be converted from existing urban and semi-rural use to accommodate for the large-scale development of new residential housing.
“An additional 4,615 households are required to match the population projection. This correlates to a rate of approximately 115 (new) households per annum - requiring 9.5 hectares of development land per year,” says the Waipa 2050 strategic plan.
“While the two halves of Cambridge – Leamington and Cambridge – are of a similar size, it is expected that growth out to 2050 will not be equally spread between the two areas. Instead, growth is expected to be more popular on the northern side of the river, and to a degree this should be provided for.”
Mr Swanson said the Cambridge Riverside development was the first sizeable town centre-fringe landholding coming on line to fulfill the council's vision for servicing a growing Cambridge.
“The Cambridge Riverside development is in total alignment with the council's strategic vision. Firstly, the subdivision is in close proximity to community services such as schools, aged care facilities, retail amenities, and employment. And secondly, it is also in close proximity to the Cambridge bypass and the potential passenger rail facility at Hautapu,” Mr Swanson said.
“Waipa District Council has been very clear in its communications with prospective residential property developers that it has a preference for greater consideration to be given to landholdings within the existing town boundaries.
“Cambridge Riverside amply fits that requirement, has been designed to retain the character of the town as much as possible and fit with the surroundings.
“The council has also worked with developers to provide for a variety of living choices in any new subdivisions, and the virtual 'blank canvas' being offered on this 1.28 hectare site certainly fulfills that obligation by planning a range of different home styles and sizes.”
Ms Waldegrave said the property would most likely suit residential or commercial developers or housing companies and that any purchaser of the Cambridge Riverside site could either undertake all of the construction programme as planned and consented or could look to modify the existing consent if required.
Data from economic monitoring agency Infometrics reported that in the decade between 2009 and 2011, The Waipa District was the third fastest growing local body authority in New Zealand – with forecasts that 20 percent of Cambridge residents are daily commuters to their workplaces in Hamilton.
The Infometrics report highlighted that growth was predominantly underpinned by the fortunes of the primary produce sectors – most noticeably dairy farming, agriculture and forestry.
Ms Waldegrave said that over the past decade, the retail and hospitality sectors in Cambridge had also substantially benefitted from several high performance sports making their base here. In particular the opening of the town's velodrome – now the best track cycling facility of its type in the New Zealand - and substantial improvements to facilities at Lake Karapiro which had seen its use grow substantially for rowing, canoeing, and waka ama events.
- Press Release via Bayleys Realty Group