Rising construction costs and problems getting funding has resulted in cancellation of a multimillion dollar west Auckland apartment project on land declared a Special Housing Area. Buyer Andrea Warmington said she was left "devastated" after being told by Colliers International that development of the Flo Apartments in Avondale would not proceed. "This notice means that the contract and your purchase of an apartment at FLO Apartments will not proceed," Evans said. Flo units were earlier this year selling from $375,000 and cars to be stacked on top of each other to save space, the Herald reported in February. "I am sure that you will be, as we are, disappointed that the FLO development will not proceed.

Source: New Zealand Herald October 10, 2016 00:32 UTC