CIP’s bulk housing infrastructure team has worked to develop a commercial model for Government and private sector funding of new roading and three water infrastructure, to support growth in housing.
The goal is to significantly bring forward in time the building of bulk infrastructure, which will in turn allow new houses to be built now and in the coming years.
Major infrastructure partnership for North Auckland
Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes at Wainui, north of Auckland.
Crown Infrastructure Partners has created a Special Purpose Vehicle (SPV) in partnership with Auckland Council, Fulton Hogan Land Development and Accident Compensation Corporation to implement this bulk housing infrastructure initiative.
Information and media on this initiative
WHY?
Some high growth Councils in New Zealand are constrained in their ability to take on further debt to invest in infrastructure. Many of these high-growth Councils are near their borrowing limits, making it challenging to finance the infrastructure investments needed to keep up with demand. This limits their ability to open up the supply of land for housing construction.
CIP is working with high-growth Councils (Auckland, Hamilton, Tauranga and Queenstown Lakes) to form a pipeline of potential transactions.
HOW?
CIP has developed a commercial model that allows the Crown, local Government and the private sector to together invest in bulk infrastructure.
EARLIER ANNOUNCEMENT
An announcement was made on 24 July 2017 by the Prime Minister and the Minister of Finance regarding the repurposing of CFH to Crown Infrastructure Partners Limited (CIP) and the proposed scope of work CIP will undertake. CFH’s purpose will be increased to include investigating and implementing commercial models, including those that will enable co-investment from the private sector or any other sector, to achieve the Government’s objectives for the deployment of water and roading infrastructure to support a timely increase in housing supply. CFH has been renamed as CIP from 1 September 2017.