Friday 8 December 2017
Development of a new suburb in south Hamilton through the Housing Infrastructure Fund (HIF) has been given the green light to be in the draft 10-Year Plan.
During the second day of deliberations at a Council meeting on 7 December Hamilton City Councillors voted 11 to one (Cr Angela O’Leary dissenting) in favour of the Peacocke HIF proposal being included in the 10-Year Plan.
The Council are seeking $308.4 million from the HIF - comprising of $189.1M of 10-year interest free-loan and $119.3M of NZ Transport Agency subsidy - for the development of the Peacocke greenfield residential area.
Council staff have developed a Detailed Business Case for Peacocke which looks at the proposal from all angles including financial, economic and strategic.
The draft 10-Year Plan will be open for public consultation in March/April 2018 and will include the opportunity for people to have their say on the HIF proposal. The Council’s 10-Year Plan will be finalised in June 2018, with the HIF proposal also needing final approval from the Government next year. If the proposal makes it through those final two stages, it will then become binding.
Hamilton Mayor Andrew King says the HIF is a fantastic opportunity to secure the future of the city.
“We’re finally close to delivering a promise we made to develop Peacocke almost 30 years ago, and create the surplus of land for housing we desperately need. We appreciate the continued support from the new Government to get this project over the line and honouring the agreement in place,” says Mayor King.
“Peacocke has the long-term space needed, is close to the central city, and can provide broader transport benefits by working in conjunction with other projects including the Southern Links road network. There are also essential links to employment and education opportunities.
“A special thanks to all the staff who worked tirelessly to pull the proposal together, it’s been a monumental effort to get to this point.”
The HIF was developed a year ago by Central Government to deliver more houses, faster in high-growth areas around the country.
Hamilton is experiencing very high growth and projections show the city is well on its way to having more than 200,000 people living there. Hamilton needs enough land for an extra 12,500 homes by 2028 and 31,900 by 2038.
Growth and Infrastructure Committee Chair Councillor Dave Macpherson says the Council has looked thoroughly at all growth options and Peacocke is the best fit.
“If Hamilton builds a new bridge over the Waikato River, new roads and installs main pipes in Peacocke then there will be infrastructure available to enable developers to continue to build homes for the next 10, 20 and 30 years,” says Cr Macpherson.
Hamilton City Council’s current infrastructure strategy does not support access to the amount of land needed. To meet the demand, a new greenfield area needs to be open soon to provide enough land for housing.
An executive summary and the full business case are available on the Council’s website.