Millions of dollars will be spent to help councils in Auckland, Tauranga and the Waikato ease tight supply of housing
Millions of dollars will be spent to help councils in Auckland, Tauranga and the Waikato ease tight supply of housing.
The funding announced this week includes $300 million for Auckland where 10,500 new homes will be built.
The cash will be spent to enable the building of large developments to be fast-tracked in two subdivisions, Whenuapai and Redhills, by increasing the capacity of water and transport networks, such as a bridge crossing to the West Harbour ferry terminal.
“More than 2,000 houses will be delivered in the first five years, with another 8,500 to be delivered in the following five years,” construction minister Nick Smith said.
In Tauranga, $230 million will be spent to aid the building of 35,000 new homes.
“These infrastructure projects will provide for a very large part of the expected need for additional housing for the next 30 years in one of New Zealand’s fastest growing regions,” said finance minister Steven Joyce.
The proposals include a new link road to State Highway 2 and local arterial roads.
Finally, two subdivisions of the Waikato will benefit from The Housing Infrastructure Fund for the construction of 10,700 new homes. This includes the Peacockes development in Hamilton is close to the city’s CBD, university and hospital and has been on the planning books for some years.
“This initiative is a massive boost to the supply and affordability of housing in Hamilton. The first homes are projected to be completed by the end of 2018, at least 1000 by 2022, and a further 7100 progressively as demand requires,” Dr Smith says.
The funding announced this week includes $300 million for Auckland where 10,500 new homes will be built.
The cash will be spent to enable the building of large developments to be fast-tracked in two subdivisions, Whenuapai and Redhills, by increasing the capacity of water and transport networks, such as a bridge crossing to the West Harbour ferry terminal.
“More than 2,000 houses will be delivered in the first five years, with another 8,500 to be delivered in the following five years,” construction minister Nick Smith said.
In Tauranga, $230 million will be spent to aid the building of 35,000 new homes.
“These infrastructure projects will provide for a very large part of the expected need for additional housing for the next 30 years in one of New Zealand’s fastest growing regions,” said finance minister Steven Joyce.
The proposals include a new link road to State Highway 2 and local arterial roads.
Finally, two subdivisions of the Waikato will benefit from The Housing Infrastructure Fund for the construction of 10,700 new homes. This includes the Peacockes development in Hamilton is close to the city’s CBD, university and hospital and has been on the planning books for some years.
“This initiative is a massive boost to the supply and affordability of housing in Hamilton. The first homes are projected to be completed by the end of 2018, at least 1000 by 2022, and a further 7100 progressively as demand requires,” Dr Smith says.
