NZ Urban Development news from the media | 25 May 2021 | Significant boost for Māori Housing in Budget 2021


Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 25 May 2021.

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

Significant boost for Māori Housing in Budget 2021

The Government is delivering on its commitment to improve housing for Māori in Budget 2021.

Boosting new supply and upgrading additional housing are key priorities for this Government and a critical part of our economic recovery as we emerge from the COVID-19 pandemic.

  • $380 million delivering about 1,000 new homes for Māori including papakāinga housing, repairs to about 700 Māori-owned homes and expanding support services.
  • Ring-fencing of $350 million for infrastructure to enable housing for Māori from the $3.8 billion Housing Acceleration Fund.
  • Funding to strengthen MAIHI approaches and partnerships with iwi and Māori to deliver more whenua-based housing and papakāinga.
  • Better quality housing through repairs of existing housing to improve social and health outcomes.

Increased infrastructure investments secure economic recovery

“Budget 2021 lifts that investment to $57.3 billion of Crown spending on infrastructure from 2021 to 2025,” Grant Robertson said.

The Government is also increasing the multi-year capital allowance from $8 billion to $12 billion over the forecast period. Budget 2021 will invest $3.9 billion of that $12 billion allowance including:

  • $810 million for KiwiRail to purchase new locomotives and wagons and complete upgrades to mechanical facilities, as well as invest in maintenance of its existing assets such as locomotives, wagons, ferries, and IT.
  • $761 million of capital for Education including $634.1 million for school property.
  • $700 million for District Health Boards to invest in new assets.
  • $306 million to support the much needed redevelopment of Scott Base to ensure it remains operational.
  • $300 million of additional capital for New Zealand Green Investment Finance Ltd to continue to invest in climate change mitigation.

$4.5 billion per year is also invested in transport services and infrastructure through the National Land Transport Fund, which comes from petrol excise duty and road user charges. It funds public transport, roads, cycle ways, rail and safety improvements all over Aotearoa New Zealand.

The costs of Argosy's new 'world leading' green star building in Wellington's CBD have ballooned to $140m

The costs for Argosy Property’s new 6-star green office building in Wellington to be leased by Statistics New Zealand have ballooned by $30 million to $140m.

The company revealed the extra costs at its annual result for the year to March 31, 2021, where the company’s profit more than doubled from the year before on the back of a $157.7m jump, 8.5 per cent, in the value of its portfolio of properties.

Argosy chief executive Peter Mence said the company’s profit on the 8-14 Willis Street redevelopment, with 12 levels, would still be about $10m, but not as much as initially expected.

Te Raekura Redcliffs School wins Supreme Award

Te Raekura Redcliffs School, constructed by Naylor Love Canterbury and their project partners, has been awarded the Supreme Award at the New Zealand Commercial Project 2021 Awards.

The school took out the coveted top award as well as the Construction Marketing Services Education Category Award and the Commercial Project Over $15m Value Award.

The New Zealand Commercial Project Awards, owned and run by Registered Master Builders, set the benchmark for commercial construction in New Zealand and recognise the team collaboration and innovation that bring these projects to life.

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