Collett’s Corner Update
Announcing the Winning Proposal for the Collett’s Corner Design Competition
September 13, 2018Madras Street Co-Housing Press Release
December 21, 2018
Collett’s Corner Project Update
Collett’s Corner Project Update
Prepared 15.12.2018
This is an update to let you know about the recent changes to the and to share with you the thinking that has brought about these changes.
As you may recall The Hive was selected as the winning design in September. Following the selection of the design we assembled a design team (full team listed below).
In October we commenced the Preliminary Design Phase. The purpose of this phase is to:
- estimate the cost of the design and value engineer the design to meet budgets.
- seek and integrate feedback from the local community, the Council and the Lyttelton Design Review Panel.
- test the commercial strategy to ensure long term viability for future business owners.
- prepare for the equity crowdfunding campaign launching in February 2019.
We did this while ensuring we retained the purpose of the project, to build community by building buildings. Â Since October we have integrated feedback and advice to make the following changes to the design:
- Building Cost: The initial preliminary design phase estimate for the construction costs for the concept design came in higher than the original estimate. We have gone through a value engineering exercise led by Warren and Mahoney and Joseph and Associates to bring costs within budget. The main changes include: reducing the facade area, maximising the lettable area and changing the materials of the building.
- Wellness Centre: We kept hearing that the project lacked a central purpose, we had yet to discover why people would want to come together at Collett’s Corner. After researching further, and testing various ideas with locals and potential investors, we have landed on a central focus to cater to developing a daily practice focused on wellbeing. Borrowing from the All Right Campaign, we are creating a place that is dedicated to supporting people to flourish. Often when we hear 'mental health' we think of trauma and suffering, but there is another side to mental health, we can also develop a practice to move from feeling good to flourishing. This does not happen by accident, rather it happens through cultivating a practice of caring for ourselves and the people around us. At the heart of Collett’s Corner we will create a wellness centre which will include hot baths, cold dunking pool, treatment facilities, yoga studio and gym.
- Commercial Reality: We engaged Joseph and Associates to assist and provide input into the business models for each of the businesses. We learned that hotels and cinemas will likely struggle in today’s market due to their low income and saturation in the market offering. So instead of providing a hotel, cinema and bar on the upper two floors, we will build apartments.Â
- Apartments: We have tested the idea of building apartments with a number of people in the local community and the feedback is overwhelmingly positive. They will be designed based on co-living principles, which means shared amenities such as laundry, rooftop access and shared balconies. These will be sold individually and owned privately. Apartments will be available for pre-sales mid of 2019, if you are interested in registering you interest to purchase an apartment please get in touch, camia@ohu.nz or on 021 112 5087.
- Investors: We have been working hard to preserve the commercial returns for investors in Collett’s Corner Ltd whilst still maximising the social outcomes. In order to achieve this the top two floors will be sold as private apartments, and not owned by Collett's Corner Ltd. The ground floor and basement will be owned by Collett’s Corner Ltd. What this means in the way of investment is that instead of raising $5,000,000 in equity we will be raising between $2,000,000 - $3,500,000 in equity reflecting the income generated by pre sales of apartments. We have already raised $1,200,000, and we can raise up to $2,000,000 in the equity crowdfunding campaign being launched in February. We will seek loans for what we dont raise in equity.
- Parking: we have received a number of questions about the parking, we are currently working on how to resolve this. We are working with the Council and the traffic engineers at Novo Group to come up with a solution based on the revised proposal. We will keep people informed as to the progress on this front.
- Architects: the winning scheme from the concept design competition was developed by in:flux. In:flux consisted of a team of four architecture graduates, each of whom work at local architecture practices. This ambitious and talented team designed The Hive on weekends and nights outside of their day jobs. When they won the competition, they asked us if we would be willing to hire one of their firms to see the project through implementation. We chose Warren and Mahoney because two of the four team members work for them. The architects for Collett’s Corner will be Warren and Mahoney in association with in:flux.
- Name: The winning scheme was called The Hive. However, we have agreed to call the project Collett’s Corner for a few reasons, it is the name locals use for the site, and it has a strong historical significance. As well there are a number of other co-working spaces called the Hive. So the name for the site and the building will remain Collett’s Corner.
The work to date forms part of an ongoing process, and the design will continue to change as the project matures. We will circulate updates as well as host gatherings where we can get your feedback as well as answer any questions.
Looking ahead, our next steps and some important dates to mark in your calendar are:Â
- JANUARY: Update the design drawings and renderings.
- JANUARY: Prepare the Collett's Corner Ltd Investment Memorandum.
- JANUARY 24TH: Host a public gathering to share the project update and answer questions, XCHC 5:30-6:30, more details here.
- FEBRUARY: Equity Crowdfunding campaign launches Feb 7th for local Lytteltonians, Feb 14th for all lovers of Lyttelton. If you are a resident or work in the Harbour Basin, and you would like to receive the private link on February 7th we need you to register here.
- FEBRUARY 7TH: If you are a Lyttelton local we will have a private launch party for you on February 7th, details to follow. Please register your interest here.
- FEBRUARY 15TH: For all lovers of Lyttelton, mark your calendar for February 15th as we will be hosting a public launch party, details to follow.
- MARCH: Design Development commences March 2019, and we are on track to complete the building by December 2020.
- JUNE/JULY: Pre-sales for apartments will commence mid 2019, if you are interested in purchasing an apartment please get in touch with me directly. (camia@ohu.nz)
Thank you for your continued interest in the evolution and growth of the project.
If you have any questions about the changes please don't hesitate to get in touch with Camia at camia@ohu.nz or 021 1125 087.
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Collett’s Corner Project Team |
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Warren & Mahoney |
Bill Gregory |
Principal |
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Warren & Mahoney |
Simon Brown |
Principal |
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Warren & Mahoney |
Frederic Gapinski |
Architectural Designer |
|
Warren & Mahoney |
Sebastien Gapinski |
Architectural Designer |
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Warren & Mahoney |
Annabel Fraser |
Architectural Designer |
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in:flux |
Maria Chen |
Architectural Designer |
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in:flux |
Paul Anselmi |
Architectural Designer |
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Joseph & Associates |
Tony Joseph |
Project Director |
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Joseph & Associates |
Linda Lodetti |
Managing Quantity Surveyor |
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Joseph & Associates |
Anton Wilke |
Associate |
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Joseph & Associates |
John Craig |
Senior Project Manager |
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Novo Group |
Rhys Chesterman |
Director and Transport Engineer / Planner |
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Novo Group |
Jeremy Phillips |
Director and Senior Planner |
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Structex |
Will Lomax |
Director |
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Structex |
Adam Walker |
Director and Senior Structural Engineer |
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Holmes Fire |
Darin Millar |
Principal |
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Powell Fenwick |
Brian Davidson |
Director and Electrical Engineer |
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Engeo |
Greg Martin |
Managing Director |
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EA Curation |
Erica Austin |
Experience Awesomest |
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Leon White Design |
Leon White |
Graphic Designer |
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The Copy Room |
Laura Griffiths |
Copy Editor |
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Telling Lives |
John Sellwood |
Story Sharer |
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Bayleys |
Mark McSkimming |
Registered Valuer |
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PledgeMe |
Barry Grehan |
Chief Lending Officer |
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Ohu |
Camia Young |
Project Steward |
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Ohu |
James Stewart |
Managing Partner |
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Ohu |
Deb Robertson |
Communications Lead |
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Ohu |
Rob Christeller |
Financial Analyst |
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15 December 2018
