The funding brings forward the development of around 1,100 houses by six years with the first houses expected in 2020. The infrastructure includes wastewater mains and a pump station, water supply reservoir and mains, a new roundabout on SH6, pedestrian and cycle underpass and bus stops.
The Housing Infrastructure Fund (HIF) investment is the start of a staged investment by the Queenstown Lakes District Council, Otago Regional Council and NZTA to manage the growing traffic pressures on State Highway 6.
This follows the announcement earlier this month of $52 million to enable the building of 1,850 houses in Kingston and at new greenfield sites adjacent to Quail Rise on the Frankton Flats.
“All up $76 million in 10-year interest-free loans from the Government’s HIF programme will be pumped into Queenstown to increase the supply of housing,” Phil Twyford said.
The latest announcement for Queenstown’s Ladies Mile will provide further support for the Frankton commercial centre and surrounding development.
“These three developments – at Ladies Mile, Kingston and Quail Rise, will substantially boost Queenstown Lakes District Council’s ability to address the town’s increasing housing supply and affordability issues caused by huge demand from not only the resident population, but also seasonal and short-term workers and visitors.
“Over the coming decade this investment in infrastructure through HIF funding will bring forward the construction of around 3,000 homes. The investment is well justified with medium rents over $600 per week and house values rising seven per cent over the last year.
“Councils in high growth areas like Queenstown are keen to progress housing developments, particularly for affordable housing, and funding towards infrastructure to support those developments will go a long way to ease pressures on councils,” Phil Twyford said.
The $1 billion HIF will enable at least 28,000 new dwellings in high growth areas around the country to be built over the next ten years and over 56,000 in the longer term.
Previous announcements of HIF funding for Queenstown:
$52 million for Kingston and Quail Rise South
Kingston –developing an affordable housing location in easy reach of Queenstown.
• Funding for infrastructure at Kingston to support new housing. It is also for new water supply and sewage treatment plants, and storm water network infrastructure for the existing town and new development, along with reticulation of water supply and waste water to the existing area.
• Development in Kingston will now be accelerated with the first of the 950 houses expected in 2020.
Quail Rise South on the Frankton Flats – bringing forward housing construction by seven years.
• Infrastructure will include a reservoir and water mains, a gravity wastewater main, and connector road to SH6, bus stops and a pedestrian underpass to the Frankton Flats commercial area.
• The development is expected to provide 900 houses within ten years.
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