Waikato Business News May/June 2023

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