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Fletcher Residential, which is developing the former golf club land in Red Beach, says that the development is not affected by the financial problems within its construction division, which were made public in recent weeks.
Fletcher Building Residential and Land Development chef executive, Steve Evans, says that the residential arm is a separate division of Fletcher Building and will continue to deliver homes at various sites in Auckland.
He says the Red Beach development, which will deliver more than 500 homes, is well underway with 95 percent of homes in stage one under construction, and the earth and civil works complete for stage two.
To date, 25 homes have been completed, 17 have been sold, and around a dozen are currently available for sale. Many more are also under construction.
