Toru Apartments (Frankton, Queenstown)

In 2017, recognising the critical need for affordable housing and rental accommodation in Queenstown, New Ground Capital acquired land and secured approvals for the development of Toru Apartments. This project includes three apartment buildings, featuring a total of 236 affordable and rental units.

Toru Apartments is strategically located at the corner of Cherry Blossom and Copper Beech Avenues, adjacent to the Remarkables Park Town Centre. The location offers residents convenient access to workplaces and a wide range of amenities, including public transport, shops, medical facilities, schools, recreational trails, and more.

New Ground Capital’s vision for the development involved selling the 78 apartments in the first stage (East building) on the open market, while retaining ownership of 156 purpose-built rental apartments in the second stage (Central and West buildings). These rental units are intended for both individual households and local employers. The second stage also features co-living spaces, designed to foster a strong sense of community, with shared lounge areas, a café, and a bar.

Construction of the East building began in early 2019 and was completed by December 2020. The apartments have since been sold to a mix of owner-occupiers, investors, and the Queenstown Lakes Community Housing Trust, which purchased 50 apartments for affordable housing. Construction of the second stage has not yet commenced.