Vision the missing link for CBD development
Property Council Auckland Branch President, Phil Eaton says Auckland’s Council’s response to private sector development outlined in the CBD masterplan is appropriate and not a moment too soon.
“The CBD masterplan is a significant step towards continuing the momentum and making Auckland’s CBD redevelopment a reality,” says Mr Eaton.
The masterplan, agreed by counsellors earlier this week, includes extensions to the wharves for more cruise ships, pedestrianising Quay Street, the Victoria Street green link and the proposed park at Wynyard Quarter which Mr Eaton says is a fantastic response to the CBD’s growth and the positive signal those investing heavily in rejuvenating the CBD have been looking for.
“Investment like this not only supports existing development activity but it encourages new participants from both New Zealand and overseas to deliver signature projects in the CBD.
“We now have over 40,000 people living in the CBD, and based on the significant pipeline of residential projects seeking to deliver another 10,000 units within the CBD to cater for further growth, this figure will continue to increase,” says Mr Eaton.
“With residential growth comes greater demand for retail, services and entertainment. Concentrated quality developments within the CBD are finally delivering the vibrant CBD Aucklanders want and deserve.”
Mr Eaton points out that Auckland’s CBD rejuvenation has accelerated over the past five years with vibrant precincts such as Wynyard Quarter, Victoria Precinct, Britomart, Aotea Precinct, K’Rd each offering residents and visitors something different.
“With supporting public infrastructure such as the city rail link progressing, we’re building real momentum as tourism and events continue to augment the Auckland CBD experience.”
“It’s particularly encouraging that the latest masterplan shows real collaboration between Auckland Transport, Auckland Council, Panuku Development Auckland, Auckland Tourism, Events and Economic Development and Regional Facilities Auckland. This is a significant and very positive step forward.”
Mr Eaton says the CBD is the commercial hub of not only Auckland, but all New Zealand.
“It is timely that we are now seeing bolder decisions that reinforce and entrench the development of the internationally appealing, 21st century city Auckland deserves.”