New townhouses planned for the north-west corner of Riccarton Rd and Deans Ave.

A $2000 reward has been offered by property developer Matthew Horncastle to find the "mentally unstable terrorist" impersonating his company in flyers.

The flyers were placed in letterboxes around Williams Corporation's new apartment complex site on the corner of Riccarton Rd and Deans Ave.

Stuff reported in September on William's plans for the complex, which is estimated to cost $23 million and be completed by early 2021.

The flyers appear on first glance to be from Williams Corporation, but a closer look shows the impersonator is slating the property company.

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Supplied The front of the fake flyers impersonating Williams Corporation.

The flyer claims the machinery to be used at the site will be "noisy and your property is likely to shake while work is being done".

It also suggests the complex had "pushed beyond the limits of the District Plan".

"It's been done to look like us, which is fundamentally wrong and illegal," Horncastle said.

"There will be people out there who don't know it isn't us and that's a problem. Everyone should have an opinion but it's the impersonation that's the issue."

Horncastle said he believed the flyers were a personal attack due to the photos used on the back of the flyer.

"My mum is the general manager, her photo's been put on the back of the flyer of her in a sundress, that's hardly appropriate," he said.

Supplied The back of the fake flyers impersonating Williams Corporation.

"The pictures of myself and a colleague with cigars is not in a work capacity and a clear attempt to smear us."

It is not the first time Horncastle has clashed with residents. He was criticised in July for calling neighbours of his work sites "nut jobs".

Beverley Ronaldson, who lives next to to the Riccarton Rd site, said she did not realise the flyers were no from Williams Corporation.

"I didn't know who it was from, it did make me nervous though. The thought of all the noise and shaking isn't a nice one," she said.

"We moved here knowing it was a nice and quiet place and now it may never be again."

STACY SQUIRES/STUFF A view from the Williams site on the corner of Riccarton Rd and Deans Ave.

Local business owner Ajay Menon said the development would likely be good for his business.

"We have problems with roadworks at the moment so it'll at least bring foot traffic to the store," he said.

"It would be good to have some more people around."

Horncastle plans to inform police if his $2000 reward offer identifies the person responsible for the flyers.