Auckland Council will use a new local residential growth fund to help fund & connect the transport needed for 1200 new homes in the Huapai Triangle special housing area.
The maximum $9.9 million investment is the first payment from the council’s 2015-25 long-term plan local residential growth fund, which the council set up and financed through Auckland Transport. The money spent will be recouped from development contributions property developers in the local area pay as each of their developments comes to fruition.
The funding agreement is a result of a collaboration between the council, the Huapai Triangle property developers and infrastructure partners Auckland Transport, the NZ Transport Agency & KiwiRail.
The infrastructure fund was included in the council’s 10-year budget, adopted on 25 June. The fund provides for $35 million/year for the next 10 years for local transport infrastructure for special housing areas & other residential growth areas. The fund is designed to bridge the budget gap for critical missing infrastructure links which might impede the development of new homes.
Council housing project director Ree Anderson said yesterday: “Creation of this growth fund is an essential step by the council & Auckland Transport as it enables the ‘just in time’ matching of core infrastructure with developers. It also provides certainty for developers and existing & future residents alike.
“This is the first of many areas that will be enabled over the next 10 years through the fund. As such, it is great to get the groundwork & supporting contractual arrangements in place – a great collaborative effort.”
Auckland’s 97 special housing areas have the capacity to yield more than 47,000 homes over 10 years. Ms Anderson said connecting them & other growth areas to key infrastructure services was vital to serving new homes and creating the quality neighbourhoods that communities expected.
The residential development on Station & Nobilo Rds, just south of the railway line at Huapai Village, will provide about 1200 additional homes in a mixed housing development and a range of types & sizes. 80-90 of the homes will be affordable, as defined by the Housing Accords & Special Housing Areas Act.
The residential growth fund will be used to upgrade parts of Station, Nobilo & Access Rds to support the planned-for increase of homes & sections in the area, and intersections of those roads with State Highway 16.
The landowners of the Huapai Triangle applied for a plan variation last September which will allow for a comprehensive residential development to be built. 120 of the potential 1200 sections are in the first qualifying development resource consent application, which was lodged with the council at the same time as the plan variation.
Attribution: Council release.