11 Oct 2016

Another Auckland apartment project falls over

From Afternoons with Jesse Mulligan, 2:07 pm on 11 October 2016
Flo Apartments

Flo Apartments Photo: FloApartments.co.nz

A multimillion dollar west Auckland apartment project has been axed. The Flo Apartments development, consisted of 91 residential apartments, at Rosebank Road in Avondale, and were pitched starting at an almost unheard of $370,000.

It comes as a blow for first home buyers, and at a time when Auckland's Unitary Plan is attempting to boost affordale supply in the city.

Real Estate Institute of New Zealand director, Bryan Thomson discusses what went wrong.

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