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Eldonwood is a joint development project with interests associated with Equity Pacific Holdings Ltd and Newport Investments and Developments Ltd, both of which currently have large projects underway in Auckland. Equity Pacific is the developer of a $300 million mixed-use development in downtown Auckland and Newport is the developer of 3ha of waterfront land at Gulf Harbour, Whangaparaoa.

The partners conducted an extensive regional search to find a property suited to their vision for a garden village subdivision as providing the key ingredients for its village concept settling on this site at Matamata.