Our new space:1 development in Panmure won’t offer any carparks – instead it will rely on public transport and shared electric vehicles for our residents.
Long commutes stuck in traffic aren’t uncommon – particularly for many first-home buyers who have no choice but to buy on the city’s fringes.
“Realistically in Auckland $40,000 to $50,000 is what you’d be paying to own a carpark,” our General Manager, Mike Beazley said.
“A small second-hand car would be $7000-$8000 a year which would include your insurance, depreciation, paying off a car loan all those things. They are real savings and in other parts of our business Solution Street we’ve had people who’ve said ‘well actually I’m going to sell my car because if I sell my car or downgrade my vehicle that means I can actually afford to get into a property’.”
Our space:1 project on the corner of Jellicoe Road and Dunn Road is based around a model called TOD – or transit-oriented development.
“You do have local buses, local trains, and they are building a cycleway from Panmure all the way into the city so you could hop on a Lime scooter or an electric bike or if you’re feeling fit, a normal bike, and head into town,” Mr Beazley said.
“We are looking to provide in partnership with Hyundai a fleet of five shared electric vehicles and they will be there for the exclusive use of the apartment owners.”
We’re ditching carparks altogether, leaving space for just the electric cars which would be shared between the 46, one and two-bedroom, apartments.
You can read the full Radio NZ article here.