Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 18 December 2017.
Wishing you and your family a Merry Christmas and a prosperous New Year.
$2b-plus town centre, 2500 residences planned for Drury
A new $2 billion-plus 2500-residence community with an entirely new town centre is being planned near Drury.
Charles Ma, the former joint managing director of Auckland's biggest CBD apartment project, Sugartree, is heading the development of Auranga to be created on a 160ha site in South Auckland.
"This will be $2b-plus project and 2500 residences will be built, from apartments to stand-alone homes, ranging in price from $585,000 to $1.5m," the Shortland St-based Ma said.
Augusta Capital starts new fund, seeds it with Wellington property
Augusta Capital has made a large industrial property purchase in Wellington 's Seaview area to kick off a new fund.
The NZX-listed property fund has bought four titles along Toop St and Port Rd, including The Hub Industrial Park, for $44.9 million, at a 7.46 per cent yield.
The company said it would initially hold its new asset to seed a new industrial property fund.
The Government’s KiwiBuild initiative will deliver 100,000 affordable houses over the next 10 years, giving hope to first-home buyers and addressing New Zealand’s housing crisis, Minister of Housing and Urban Development Phil Twyford says.
Treasury forecasts show that KiwiBuild will boost residential construction investment by 10 per cent by 2022.
“The latest forecast in the Half Year Economic and Fiscal Update shows an extra $5.4 billion of residential construction investment will take place over the next four financial years, largely as a consequence of KiwiBuild,” Phil Twyford says. https://www.beehive.govt.nz/release/kiwibuild-lift-house-construction-investment
$2b-plus town centre, 2500 residences planned for Drury
