Housing minister says investment "unlocks the potential for future market-led development"
The New Zealand government has announced that it will be funding housing infrastructure in five Auckland suburbs through the Housing Acceleration Fund.
Housing minister Megan Woods said that the funding boost will add up to 1,260 additional homes on top of the 2,500 additional homes that have already been supported by government funding.
Read more: Government announces criteria for $1 billion house development funding
“Two hundred and eighty-two million dollars will be spent on large scale projects (LSPs) in Mount Roskill, Mangere, Tāmaki, Oranga, and Northcote, in Auckland’s first big chunk of Housing Acceleration funding,” said housing minister Megan Woods. “We’re stepping in with funding for these areas to fix decades of under-investment in infrastructure that will have wider benefits for the communities, including improved sewerage, and flood prevention. This is a key part of the government’s plan to address the housing crisis by increasing supply through our strategically located LSPs in areas where people want to live.”
Wood added that replacing ageing pipes and improving roading “is essential to future proof and grow these communities.”
“These LSPs provide quality housing where it is needed most and the investment in infrastructure unlocks the potential for future market-led development,” she said.
Wood also confirmed that, while the government is putting in more money in this early step, Auckland Council “will contribute more funding later.”
