While Graham Stuart was easily re-elected to the board of Vital Healthcare Property Trust's manager, a majority of non-aligned investors voted against him.
The $300 million Queen St development, shelved in May, is back on track, say its developers.
House price inflation forecasts are rising, and National says housing spend-up from RBNZ's latest lending programme must be stopped.
Vital Healthcare's Canada-based manager allocated itself more units than its pro-rata holding, while under-allocating units to past critics.