£l00,000 SCHEME

Grey River Argus, 24 May 1935, Page 2

£l00,000 SCHEME

BUILDING OF FLATS IN AUCKLAND. AUCKLAND, May 22. A £lOO.OOO development scheme, involving the construction of probably seveirty Hats in blocks on the Avellkuown “Cintru” property. Symonds Street, unce the residence of S’.r Arthur Myers, is to be commenced shortly Fvith the erection of the first block, considered that the development wilt be the most comprehensive and important of its kind that has yet been undertaken in New Zealand. Details of the project Avere discussed by Mr Janies Fletehen. managing director of the Fletcher Construction Company. Each flat said Mr Fletcher, would be completely residential. with no outbuildings. It Avas estimated that each flat would be of £lOOO in value, and the estimated value of the b ocks would be about £70,000. With the property and the improvement work, the scheme would involve .r--value of about £lOO,OOO. Each block would be sold as it was erected. Four acres had been subdivided for the construction of ‘tAvelve blocks, and plans for blocks of residential flats Avere being prepared. There would be four, six, amd eight flats variously in the blocks, according to the size of the sections, and the project avth] be a eompjrehe i •>.? s\lcme ~n must modern town pla r ring lines. E.ud building wou\l be cf two storeys, amd the AvoiPd be i«t brick. The construction Avould be reinforced concrete.