The Housing Infrastructure Fund will provide $300 million of infrastructure funding to Auckland Council for another 10,500 new houses across two major new subdivisions in Auckland, Finance Minister Steven Joyce and Building and Construction Minister Dr Nick Smith say.
“This investment will fast-track the construction of large housing developments at Whenuapai and Redhills by increasing capacity of the water and transport networks in the area,” Mr Joyce says.
“The infrastructure funding will pay for five roading projects including a new bridge crossing to the West Harbour ferry terminal, three waste water projects and two stormwater projects.”
“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,” Dr Smith says.
“These projects have been made possible by the Auckland Unitary Plan and the billion dollar commitment from central government to assist fast-growing councils to lift housing supply.”
The Auckland HIF allocations join others around the country to enable an additional 60,000 houses to be built across New Zealand.
They will add to the current Auckland housing supply growth rate of 10,400 houses a year, and the Government’s Crown Building Project which is building 34,000 new houses in Auckland over the next ten years.
“Auckland has additional housing infrastructure projects it is seeking help with outside of the Housing Infrastructure Fund as it doesn’t have further debt capacity on its balance sheet,” Mr Joyce says. “Discussion on those options are continuing and the Government will have further to say on those matters in the weeks ahead.”
The Auckland Council will now work through Detailed Business Cases for the HIF projects alongside government agencies, with the first funding agreement from the Housing Infrastructure Fund expected to be signed in the coming months.