The Marutūahu-Ockham Partnership is buying 1.58ha of Avondale land from Auckland Council’s property arm, NZ Herald reports, and will spend $550 million building 750 apartments in eight blocks of up to 10 storeys. “This will be a milestone for the regeneration of this vibrant city fringe neighbourhood,” the council agency said. Longer-term plans are for a new library and community centre beside the 750 new apartments.