February 24, 2021

NZ Urban Development news from the media | 24 Feb 2021 | Have your say on Auckland Council Recovery Budget

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Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 24 February 2021.

Provided by Rockhopper Development Management & Advisory, a member of:

Have your say on Auckland Council Recovery Budget

Auckland Council’s 10-year Budget for 2021-2031, our Recovery Budget, is now open for public consultation, giving Aucklanders the opportunity to have their say.

Auckland’s Recovery Budget will increase the council’s total capital investment in our city from $26 billion to $31 billion over the next 10 years to deliver infrastructure for transport, housing, water and within our communities, helping to stimulate jobs and our economy.

It will respond to the impacts of climate change, protect our environment, and continue to provide essential and key services to Aucklanders. The budget also sets out our commitment to prudent management of our finances and a continued focus on savings to manage the loss of council income from COVID-19, with cumulative losses projected to reach around $1 billion by 2024.

https://ourauckland.aucklandcouncil.govt.nz/articles/news/2021/02/have-your-say-on-our-recovery-budget/

The International's developer calls for voluntary administration, can't pay all creditors

The developer behind one of New Zealand's biggest apartment jobs The International has put the company into voluntary administration, saying not all creditors will be paid.

Gary Groves engaged Dominion Constructors to convert the ex-Fonterra headquarters at 9 Princes St in Auckland's CBD into luxury apartments in a $250 million job and Donald Trump ex-aide Chris Liddell was said to have bought an apartment there for around $15m

But Groves' Sanctuary Developments No 8 is now in the hands of Jeff Meltzer and Mike Lamacraft of liquidation and receiver specialists Meltzer Mason, according to a statement issued this afternoon.

All the apartments have been completed and 90 per cent of them sold but construction delays spelt trouble with the project.

https://www.nzherald.co.nz/business/the-internationals-developer-calls-for-voluntary-administration-cant-pay-all-creditors/C3UTMETAXY72L63KKRFSYXF6G4/

Heritage building set to be reborn as NZ's largest construction reuse project

For the first time in nearly a generation, our rental laws are fit for the times, thanks to this Government’s Residential Tenancies Act reform, says Associate Minister of Housing (Public Housing), Poto Williams.

“The new tenancy rules come into effect today and reflect the realities of the modern-day renting environment. Tenants are now able to make their house a home. From today it’s critical that landlords and tenants understand how the changes affect them,” says Poto Williams.

“This Government believes the updated rental laws now provide adequate protections for both tenants and landlords. The reforms have come at a time when Kiwis are renting now more than ever, including whānau and older people,” says Minister Williams.

A key focus of the reform has been to improve security of tenure and enable tenants to put down roots in their communities.

https://www.stuff.co.nz/business/property/300233059/heritage-building-set-to-be-reborn-as-nzs-largest-construction-reuse-project