Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Tamaki Redevelopment Company Heads of Agreement Applauded

25 July 2012

Tamaki Redevelopment Company Heads of Agreement Applauded

The NZ Council for Infrastructure Development applauds yesterday's signing of the Heads of Agreement between the Government and Auckland Council, to jointly form New Zealand's first urban redevelopment company.

The Tamaki Redevelopment Company (TRC) will lead the transformation of the Tamaki area over the next 15-20 years, and if successful, the model could be a blueprint for urban regeneration elsewhere in the country. Therefore, getting it right is critical not only for the communities of Tamaki, Glen Innes and Panmure, but also for communities across New Zealand.

As New Zealand's inaugural Redevelopment Company, there will be lessons to learn along the way, but at first glance, the approach taken looks encouraging.

The Company's focus on social uplift and its mandate to create measurable improvement in areas beyond solely social housing is laudable. The incorporation of a social component focused on skill and employment acquisition, an economic component to strengthen the local economy, creating new jobs and business opportunities, a housing component to optimise land use and existing housing stock, including progressing private housing development and delivering better social housing options in Tamaki, and a spatial component to create safe and connected neighbourhoods, are well advised.

We are encouraged by the requirement of the Company to bring all current and future initiatives and projects together into a single strategic framework. A master plan for the next 15-20 years, supported by the local community, government, business, education, social agencies, developers and financiers working in collaboration to achieve a common vision will go far in ensuring the early and committed engagement of stakeholders, and providing long term comfort for investors and a sense of certainty for residents.

There is also merit in the Heads of Agreement partnership, where the government will take a 59 per cent share and Auckland Council a 41 per cent share, contributing $5 million and $3.5 million of establishment capital and expertise respectively. Not only do both major players now have skin in the game, the partnership will also leverage enhanced land and development opportunities through co-ordinated urban design and planning activities.

The scale and vision of the urban regeneration proposed is also commendable. For the project to achieve the kind of social outcomes the community desires, providing the scale of redevelopment that allows the private sector to invest expertise and funds whilst making a commercial gain, is imperative. The remit of the TRC appears to do this.

So, as a starter for ten, it is looking relatively attractive. The bit we are worried about, as no doubt Minister Heatley is, is how the private sector views the offer, and whether they will come to the party with the requisite funds to effect the transformation. Only time will tell, but we are cautiously optimistic.

As proponents for best practice in infrastructure delivery, NZCID is encouraged by the establishment of the Tamaki Redevelopment Company. We welcome both Debra Lawson, the CEO-Designate and soon-to-be-appointed Board members to their roles, and look forward to the social enhancements this visionary, catalytic project for New Zealand will deliver.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>

ALSO:

Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>

ALSO:

NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>

ALSO:

Banking: Westpac NZ Lowers Merchant Fees For Small Businesses

Westpac NZ is rolling out a new merchant fee pricing structure that will lead to cost savings for more than 10,000 small and medium Kiwi businesses, and could make contactless transactions more widely available for customers. On 1 September, most ... More>>

REINZ: Million Dollar Plus Property Sales Increase 11.7% Nationally

The number of properties sold around the country for one million dollars or more during the first half (H1) of 2020 increased by 11.7% compared to H1 2019, with 5,426 million-dollar plus properties sold (up from 4,858 in H1 2019) according to the Real ... More>>

Waste: Government To Regulate Plastic Packaging, Tyres, E-Waste

The Government is stepping up action to deal with environmentally harmful products – including plastic packaging, tyres and e-waste – before they become waste. As part of the wider plan to reduce the amount of rubbish ending up in landfills, ... More>>

ALSO:


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>

ALSO:

QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>

ALSO:

Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>

ALSO:

FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>

ALSO: