Work on a $180 million hotel and resort development in Wānaka is expected to begin next year.
The Mount Iron Wānaka development would include a 136-room Sudima hotel, 72 townhouses and apartments, shared swimming pools, landscaped gardens, dining and conference spaces.
It would be built on 1.8 hectares of land at the foot of Mount Iron and was expected to take four years to build.
Sudima Hotels and Hind Management founder and chief executive Sudesh Jhunjhnuwala said the hotel would bring much-needed amenities to the town.
"Wānaka has grown significantly but its hotel offering hasn't kept pace and we see a real gap in the market for a high-quality, full-service hotel," he said.
Despite its rapid growth, Wānaka has not had a new hotel of any significance since the 106-room Edgewater opened in 1986.
That growth has not been without teething issues with concerns about a shortage of housing and the cost of living as well as pressure on existing services including healthcare and wastewater.
The development was originally proposed in 2022 but was put on ice due to the economic downturn and changes in planning requirements.
The existing resource consent allowed construction to start but an amendment to the consent was also needed as the masterplan had been revised with more focus on creating an alpine resort.
KR Capital, which was part of engineering and design consultancy Kirk Roberts, came up with the project.
Kirk Roberts chief executive Jade Kirk said a development of this scale created jobs, supported local businesses and added opportunities for hospitality, tourism and retail.
"We wanted to rethink the traditional resort model and create something genuinely different - bringing together residential living, tourism, hospitality, recreation, and health and well-being within one integrated destination," she said.
"As the region continues to grow, we see an opportunity to introduce something that complements its natural environment while contributing positively to its long-term economic future."
Hind Management, which operated Sudima Hotels, would manage the hotel and residences.
Local Sotheby's International Realty agent Sheryl Alty said the development would bring a completely fresh offering to Wānaka.
"We see it appealing to buyers at different stages of life, from those seeking a holiday base to those making Wānaka their permanent home or planning their next chapter in retirement," she said.
"For buyers who divide their time between Wānaka and elsewhere, the option of managed rental arrangements adds another layer of appeal. It allows them to explore how personal use and rental accommodation could fit their ownership plans."
Earthworks were expected to start early next year with work on residential properties occurring later in the year, but timing would depend on the amended consent being granted.
The $300m privately-owned Wānaka Health Precinct was also under development about 700 metres away from the Mount Iron Wānaka resort.
A separate 250 home development, also near Mt Iron, was recently granted fast-track approval.
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