Critical infrastructure projects to enable seven large housing projects around the country will receive a share of almost $179m in funding to enable thousands more homes, Housing Minister Megan Woods announced today.

Rotorua, Ōmokoroa, Kaikōura, Ōtaki, Napier, Gisborne and New Plymouth will all receive a portion of the Government’s Infrastructure Acceleration Fund.

The Infrastructure Acceleration Fund (IAF) is a contestable fund designed to allocate funding for infrastructure to enable housing development such as transport, three waters or flood management. Administered by Kāinga Ora – Homes and Communities, the fund of approximately $1 billion was launched by the Government in June 2021, and has received great response from councils, iwi and developers across Aotearoa.

Kāinga Ora IAF Project Director, Andrew Brown, says the first tranche of funding announced today will go a long way towards allowing more homes to be built in the regions.

“The $179m IAF funding announced today will fund core infrastructure, enabling the market to work together with councils and Kāinga Ora to deliver over 8,000 homes for New Zealand,” he says.

“This marks the beginning of a game-changing journey to deliver crucial infrastructure needed before more homes can be built. The wide range of homes this infrastructure will pave the way for includes elderly housing, papakāinga, public, affordable and market housing.

“The IAF is a good example of how Kāinga Ora is fulfilling its role as the Government’s urban development agency. Through strong partnerships with local councils, iwi and private developers, the funding announced today will help increase housing supply and build thriving communities for New Zealanders.”

The IAF funding announced today includes the following.

Region

Infrastructure type

Funding agreed

Homes expected

Region

Rotorua

Infrastructure type

Flood management

Funding agreed

$84.6M

Homes expected

3,080

Region

Ōmokoroa

Infrastructure type

Transport

Funding agreed

$38.4M

Homes expected

2,580

Region

Ōtaki

Infrastructure type

Three waters and transport

Funding agreed

$29.3M

Homes expected

1,040

Region

Maraenui

Infrastructure type

Flood management

Funding agreed

$12.4M

Homes expected

400

Region

Kaikōura

Infrastructure type

Three waters and transport

Funding agreed

$7.8M

Homes expected

460

Region

Gisborne

Infrastructure type

Three waters and transport

Funding agreed

$4.2M

Homes expected

458

Region

New Plymouth

Infrastructure type

Three waters and transport

Funding agreed

$1.8M

Homes expected

300

“Of course this is just the beginning for these developments, with milestones to meet and the typical construction challenges to face. However, we will be working closely with the project delivery partners as the projects progress,” says Andrew Brown.

“We have a further 28 proposals currently undergoing due diligence and agreement negotiation in the final stage of the IAF, so look forward to more exciting IAF announcements in the coming months.”

Read more about the IAF-funded projects in Tranche One:

Media Contact

Uma na faafou le itulau: 21 July 2022