The release of initial sites in Queenstown’s new Park Ridge staged residential subdivision on Kingston Road/SH6 within the town’s southern corridor is resonating with prospective buyers, as sales’ agents report a high level of early interest.

Progressing under a Special Housing Area (SHA) designation, Park Ridge aims to boost the wider district’s owner-occupier and long-term rental housing supply, with sections having covenants to preclude any commercial or short-term visitor accommodation in the subdivision.

While investors can acquire sites and build houses for the long-term rental market, bare land sections cannot be purchased speculatively for landbanking or on-sale to ensure that Park Ridge is developed for residential housing in a timely manner.

Stage One of the five-stage Park Ridge project comprises 122 sections ranging in size from 337-862sqm, with the bulk being in the 400-500sqm range. Development infrastructure for the first stage is well underway, and a new roundabout has been constructed to allow safe entry into the subdivision from SH6. Titles are expected to be issued in August this year.

The first stage will include a playground, and discussions are advanced for some commercial activity including a day-care facility and potentially a convenience store to cater to the family-orientated community.

Land to the north is held by the QEII Trust, ensuring landscape and biodiversity on the property’s boundary is protected in perpetuity, and that views are retained for those building in Park Ridge. Building and landscape design guidelines are in place to maintain the development's look-and-feel and to enhance long-term property values.

Pricing is being finalised, and expressions of interest are now open through Sarena Glass and Sarah McBride of Bayleys Queenstown.

With Queenstown’s population growing at a faster rate than national averages, and with a well-documented shortage of housing for permanent residents who contribute to the local economy, Glass says Park Ridge is expected to be a popular option for those wanting accommodation security and a four-season lifestyle near to the town’s amenities.

“The land is close to the Remarkable Skifield, world-class golf courses, mountain biking and walking trails, and adjacent to the Jack’s Point and Hanley Farm precincts.

“A real sense of community is evolving in this wider area and with the Frankton commercial and service hub and Queenstown Airport nearby, good schools in the area, and downtown Queenstown just 12km away, there’s good connectivity and a high level of amenity to support development.

“Park Ridge also addresses the town’s residential affordability issue. With the sections at an accessible price point, and titles due later this year, buyers will be able to leverage better mortgage interest rates and hopefully, more stable materials and construction costs as the year unfolds.”

With the Queenstown residential market among the strongest in the country and outpacing national average values, McBride says Park Ridge provides options for those wanting to remain in, or move to, the district.

“The early feedback we have received since launching the dedicated website parkridge.nz is that the market is clearly ready for this subdivision.

“The Queenstown residential housing market has been squeezed for too long and there is a real need to increase long-term housing supply with protection from visitor accommodation pressures.”

Bayleys will host onsite Open Days on Saturday 8th, Sunday 9th, and Saturday 22nd February from 10am-1pm, with agents on hand to talk interested parties through the project’s offering and timeline.