Story: Business cycles
In November 2008 building was scheduled to begin on a $200-million apartment complex on this Wellington site. Eight months later construction had not begun, although the advertising was still there. The project stalled in part because the international banking crisis had stopped an expansion phase and led to a contraction. At least three other apartment projects in the Wellington area were also put on hold.
About this item
Te Ara – The Encyclopedia of New Zealand
Photograph by Jock Phillips
This item has been provided for private study purposes (such as school projects, family and local history research) and any published reproduction (print or electronic) may infringe copyright law. It is the responsibility of the user of any material to obtain clearance from the copyright holder.