$300 million infrastructure investment will help create 10,500 homes
Auckland Mayor Phil Goff and Finance Minister Steven Joyce today announced $300 million of new infrastructure investment to bring forward the construction of 10,500 new homes in Whenuapai and Redhills, Auckland.
The $300 million new funding provided through the Housing Infrastructure Fund will unlock new housing development in Auckland's north-west via investment in transport, wastewater and stormwater projects earmarked by Auckland Council as priority, fast-track initiatives.
Mayor Phil Goff says, "The HIF provides the opportunity for Auckland Council and Government to work together to start addressing Auckland's serious housing issues for the benefit of our city and the New Zealand economy."
"This funding will fast-track priority new infrastructure projects, turning zoned land into 10,500 new homes, and creating new Auckland communities.
"Over the last several months, I've met with the Prime Minister and other Ministers to discuss the HIF. I am pleased that Auckland Council has been able to work with Government to ensure the Government's wider finding package for infrastructure aligns with Auckland Council's financial constraints."
Mayor Goff says Auckland's HIF bid focused on a small number of highly development ready areas where funding would accelerate priority projects and unlock housing growth quickly.
In addition to wastewater and stormwater improvements, the $300 million will fund improvements to transport infrastructure including an extension to Fred Taylor Drive and Northside Drive, an update and realignment of Trig Road and a new bridge crossing to West harbour ferry terminal.
"Not only are we accelerating housing delivery, we are creating new centres for employment and increased accessibility across the Auckland region with improvements to Auckland's transport system.
"Accelerating housing delivery in Auckland is a priority. I welcome the Government's recognition of the growth challenges facing Auckland and their readiness to work with Council to address issues in our city for the benefit of all New Zealand.
Mayor Phil Goff says that while $300 million in new infrastructure investment will help Auckland address housing shortages in the city, it will continue to need billions of dollars of extra investment to keep pace with the city's unprecedented growth.
"Auckland has received most of what it sought from the HIF. In the coming weeks there will be a further important announcement from Government on new funding options for Auckland that take into account the balance sheet constraints the city faces. We have worked constructively with Government to find innovative solutions to meet Auckland's needs.
"The HIF package will help significantly, but with ongoing growth and the pressing need for matching infrastructure, we will need to continue to work together to increase and bring forward investment to tackle Auckland's housing shortage and growing congestion," says Mayor Goff.