The Government’s third tranche of the Infrastructure Acceleration Fund (IAF) will enable around 16,600 new homes to be built across New Zealand, including approximately 1400 in Christchurch.
The third round of IAF funding will invest $539.8 million on ground work like pipes, roads and flood protection to enable thousands of new homes in Christchurch, Hamilton, Auckland, Tauranga, Kawakawa, Kaikohe, Westport, Upper Hutt, Waipukurau, Hokitika and Pahiatua.
IAF funding of $30.9 million will accelerate housing delivery within a large development area in Papanui through new transport infrastructure and wastewater, stormwater and freshwater upgrades.
The stormwater projects will also create additional network capacity for surrounding suburbs, and the wastewater infrastructure will reduce the occurrence of overflows in high rainfall events.
It is expected the infrastructure funding will enable around 1,400 new homes located close to the city centre, educational facilities, public transport, and other community amenities.
“This is a great example of the Government, Paenga Kupenga (mana whenua’s economic arm), the private sector and Christchurch City Council working together to identify and deliver housing outcomes,” says Deputy Mayor Pauline Cotter.
The development includes new public housing and affordable homes, and will be built progressively over the next seven years.
A total of 13 proposals have been allocated funding from this round of the IAF in 11 centres around the country. Combined, they are expected to enable around 16,600 new homes to be built across multiple developments over the next 10 to 15 years.
Today’s announcement follows on from earlier IAF funding allocations of $6.1 million in December last year, $179 million in July, and $192 million last month.
"To date, $916.3 million in IAF funding has been committed to infrastructure projects throughout the country. Combined, these IAF-funded projects are expected to enable around 30,000 to 35,000 new homes for New Zealanders over the next 10 to 15 years," says Minister of Housing Dr Megan Woods, who made today's funding announcement.