Waikato Business News May/June 2023
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
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4 WAIKATO BUSINESS NEWS, MAY/JUNE <strong>2023</strong><br />
Peacocke<br />
set to deliver<br />
millions in<br />
savings for<br />
Hamilton<br />
ratepayers<br />
Update on Peacocke programme<br />
funding shines light on bright future<br />
for Hamilton’s next greenfield<br />
development area.<br />
Hamilton City Council’s<br />
biggest investment<br />
into a new growth area<br />
is on track to deliver up to $80<br />
million in interest savings for<br />
ratepayers.<br />
The financial and economic<br />
benefits had by the city since<br />
unlocking Peacocke for new<br />
homes in 2018 is outlined in a<br />
staff report to the recent Strategic<br />
Growth and District Plan<br />
Committee.<br />
Future development in Peacocke<br />
is made possible largely<br />
due to the $290.4 million<br />
Housing Infrastructure Fund<br />
package from central government<br />
to build the three waters<br />
and transport infrastructure<br />
required to support a new community.<br />
The package included<br />
a $180.4 million 10-year interest<br />
free loan and $110.1 million<br />
in Waka Kotahi NZ Transport<br />
Agency subsidies.<br />
Committee chair councillor<br />
Ryan Hamilton says the hightrust<br />
funding model enabled<br />
the city to get on with the job<br />
and is largely on track with<br />
milestones set out in the agreement<br />
with government.<br />
“Receiving upfront investment<br />
from central government<br />
was a real game-changer for<br />
Peacocke and made it possible<br />
to unlock the area for future<br />
housing developments in a<br />
financially sustainable way for<br />
council, the community and<br />
ratepayers.”<br />
Projected savings from the<br />
interest-free loans could be<br />
between $70 million up to $80<br />
million and represent significant<br />
financial benefit to the city.<br />
We know the<br />
market has changed<br />
recently and it’s a<br />
tough economic<br />
environment for<br />
developers given<br />
the downturn in the<br />
housing market<br />
Other economic benefits<br />
outlined in the report include<br />
the creation of local jobs, with<br />
major project elements completed<br />
by medium-sized businesses<br />
both in Hamilton and<br />
around the country. Infrastructure<br />
projects for Peacocke<br />
have boosted economic activity<br />
to the tune of $242 million<br />
– that’s equivalent to 20,000<br />
full-time jobs for the first five<br />
years of the programme.<br />
It’s not just how Peacocke<br />
stacks up financially that makes<br />
it a game changer for the city,<br />
it’s also the social, environmental<br />
and cultural benefits that are<br />
a core part of the programme,”<br />
Hamilton says.<br />
“People and the environment<br />
have been at the<br />
heart of planning for the<br />
new community.”<br />
Alongside the significant<br />
infrastructure programme,<br />
Peacocke is<br />
council’s biggest neighbourhood<br />
investment in<br />
the environment. Work<br />
has already started to<br />
deliver new wetlands,<br />
protect habitats for native<br />
lizards and bats, restore<br />
1.5 hectares of the Mangakootututuku<br />
Gully network<br />
and extensive planting<br />
of new trees and plants.<br />
Working in partnership<br />
with iwi and hapuu has seen<br />
the whole city benefit. Cultural<br />
symbolism and artwork,<br />
tikanga and tangata whenua<br />
values and storytelling have<br />
been incorporated into the<br />
delivery of infrastructure and<br />
community projects.<br />
The report acknowledges<br />
the programme has not been<br />
without its challenges. The<br />
impact of the COVID-19<br />
pandemic, global economic<br />
uncertainty and market focus<br />
on infill development have<br />
created strong headwinds for<br />
residential developers. While<br />
housing delivery is tracking<br />
slightly slower than expected,<br />
several major developments<br />
are consented including a<br />
1100-home residential development<br />
and 230-unit retirement<br />
village.<br />
“We know the market has<br />
changed recently and it’s a<br />
tough economic environment<br />
for developers given the downturn<br />
in the housing market and<br />
the huge cost increases of materials<br />
and fuel. Some developers<br />
are being cautious while others<br />
are pressing ahead as best as<br />
they can to start developments<br />
in Peacocke,” Hamilton says.<br />
“We’ve been ambitious<br />
when it comes to enabling<br />
development in Peacocke and<br />
demonstrated we can deliver a<br />
complex and large programme<br />
despite local and global<br />
challenges.”<br />
Peacocke is ready for the<br />
next stage of new homes with<br />
the updated structure plan in<br />
place now and key water and<br />
transport infrastructure on<br />
track to be completed by the<br />
end of <strong>2023</strong>.<br />
PEACOCKE - BY THE NUMBERS - SO FAR:<br />
• 200,000 native plants planted.<br />
• Up to $80 million in interest savings due to interest-free<br />
Housing Infrastructure Fund loan.<br />
• $242 million infrastructure project spending since 2018.<br />
• Nearly 2000 homes expected in the area by 2028.<br />
• 400 concrete panels cast from hand-carved moulds<br />
form the new <strong>Waikato</strong> River bridge foundations.<br />
• 16 new neighbourhood parks planned for future stages<br />
of development.<br />
• 41% of installed ‘bat boxes’ artificial roosts used by bats.<br />
• 7 hectare sports park secured for future development.<br />
Peacocke is being built with<br />
the support from the Government’s<br />
Housing Infrastructure<br />
Fund, made up of a $180.3<br />
million 10-year interest-free<br />
loan and $110.1 million of<br />
Waka Kotahi NZ Transport<br />
Agency subsidies.<br />
The Peacocke programme<br />
will deliver a new bridge, a<br />
transport network that caters<br />
for public transport, pedestrians<br />
and cyclists, parks, and<br />
strategic water, wastewater<br />
and stormwater networks.<br />
Other work includes protecting<br />
and enhancing the environment,<br />
including the extensive<br />
gully system, opening the<br />
area to the <strong>Waikato</strong> River, and<br />
investigating community facilities<br />
which are also important<br />
parts of creating a new community<br />
in Peacocke.<br />
When completed, Peacocke<br />
will be home for up to 20,000<br />
Hamiltonians.<br />
Ultra Charging<br />
at Ebbett VW<br />
With electric vehicles<br />
becoming more<br />
popular, the team<br />
at Ebbett Volkswagen have<br />
installed fast EV chargers<br />
on-site at their Te Kowhai East<br />
Road location. Their ultrafast<br />
175kw charger delivers<br />
a whooping 320km range<br />
in just 30 minutes meaning<br />
you’ve just got time to pop<br />
into the dealership and enjoy<br />
a complimentary coffee before<br />
your vehicle is topped up and<br />
ready to go. It’s open 24/7<br />
to the public and is straightforward<br />
to use through<br />
ChargeNet app.<br />
https://www.welovevw.nz/<br />
story/ultra-fast-charging-atebbett-vw<br />
https://charge.net.nz/