Kiwi Property, the owner of LynnMall, has announced that it is moving ahead with a significant build-to-rent (BTR) development that will include 245 BTR apartments. As a result, there could potentially be 600 apartments on the New Lynn site.
More than half of Aucklanders over the age of 15 currently rent, with this number expected to rise to 60% by 2043. This new asset class has the potential to play an important role in helping address the growing demand for rental accommodation and alleviate New Zealand’s housing shortfall,” says Kiwi Property CEO, Clive Mackenzie.
The model offers residents the flexibility and convenience of renting, coupled with the security of
tenure typically associated with homeownership. Tenants will be able to keep pets as of right, hang pictures and have flexibility with the colour scheme.
The building will integrate ground floor retail, three commercial office levels and 19 floors of residential apartments. It links to the existing LynnMall retail centre and is within 50 meters of the New Lynn train station, being located on the corner of Totora Avenue and Memorial Drive. The development will be the tallest building in west Auckland and offer quality amenities, including a rooftop deck and leisure area, providing unparalleled views from the Waitematā to Manukau harbours.
The development will include amenity spaces, concentrated activity zones, and organised events will create a vibrant community with a deep connection to place. 7–8 Homestar rating is targeted, delivering excellent sustainability performance.