NZ Urban Development news from the media | 5 June | Bill to set up urban development authority introduced

Posted on 30 Mar 13:09
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Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 5 June 2019.

Provided by Rockhopper

Bill to set up urban development authority introduced

Legislation to set up the Government’s urban development authority – Kāinga Ora–Homes and Communities – has been introduced to Parliament today.

Housing and Urban Development Minister Phil Twyford said Kāinga Ora–Homes and Communities will be the Government’s lead developer for urban development. It will bring together three existing agencies; Housing NZ, its development subsidiary HLC, and the KiwiBuild Unit.

“Homes and Communities will create a diverse mix of public, affordable and market housing.

“It will also be a world class public housing landlord and will continue to offer the homeownership support currently provided by Housing NZ and HLC such as Home Start Grants and Welcome Home Loans.

https://www.beehive.govt.nz/release/bill-set-urban-development-authority-introduced

Precinct Properties announces more delays to completion of Commercial Bay

Big property investor Precinct Properties has pushed back the opening of its huge Commercial Bay development in downtown Auckland due to delays in construction progress by main contractor Fletcher Construction.

Precinct said the opening of the retail centre had been put back six months to March 2020 from September 2019 and the opening of the PwC Tower would be delayed until April 2020 from a previous scheduled December 2019 opening.

Precinct chief executive Scott Pritchard said the delays could cost the company up to another $10 million taking the total office and retail development to $700m.

Fletcher Construction had brought claims against Precinct for extensions of time and additional costs and more were expected, but they had not been granted, he said.

https://www.stuff.co.nz/business/113083646/precinct-properties-announces-more-delays-to-the-opening-of-commercial-bay--fletcher-construction-behind-schedule


Former council flats in Lower Hutt are on the market

A portfolio of 75 former council flats generating more than a net half a million dollars of rent is up for grabs in Lower Hutt.

They were built by the Hutt City Council, but in 1996, strapped for cash and wanting to reduce debt, it decided to sell a lot of its rental housing.

It sold 206 properties for the government valuation, $7.9 million, in early 1997 to a company headed by former city councillor Dick Werry, who was, ironically, part of a group, Positive Focus, opposed to council housing sales. 

https://www.stuff.co.nz/business/113030876/former-council-flats-in-lower-hutt-earning-more-than-500000-a-year-are-on-the-market


Panuku to sell a historic Auckland building to a developer has led to calls for more transparency from councillors

Auckland councillor Mike Lee is calling for the Council Controlled Organisation (CCO) Panuku to suspend any sale or transfer of ownership of the historic property until the council has been provided with a full report of the commercial details of the proposed transaction, including the price. And he also wants more information on how the outstanding heritage concerns relating to the Category A listed building have been resolved.

Civic Lane Ltd is planning to buy the building. Its part owner and director, property developer John Love, plans to turn the Grey’s Ave building, which borders Mayoral Drive and Aotea Square, into apartments with food and beverage outlets on the lower levels as a key part of a wider $200 million to $300 million development. The wider development is expected to include new commercial office and retail space, as well as a hotel built on Mayoral Drive itself. 

But Lee says he wants to see the sale suspended until some key questions are answered and he’s seeking the support of fellow councillors to make sure it happens.

https://www.interest.co.nz/property/99902/plans-panuku-sell-historic-auckland-building-developer-has-led-calls-more


Auckland Economic Quarterly

A quarterly update on Auckland's economic challenges and opportunities from our Chief economist.

The update includes the latest economic indicators on unemployment, housing, migration and more.

https://www.aucklandcouncil.govt.nz/about-auckland-council/business-in-auckland/docsoccasionalpapers/auckland-economic-quarterly-may-2019.pdf

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