Auckland recently took another step towards unlocking the potential of more than one billion worth of council-owned land under management when Panuku Development Auckland opened its doors on 1 September.
Panuku Development Auckland is the result of a merger between council-controlled organisations Auckland Council Property Limited (ACPL) and Waterfront Auckland.
It will work with private developers, iwi, non-profit organisations and central government to create residential and commercial development opportunities in urban areas across Auckland, making the most of council land in a way that hasn’t been possible to date.
Mayor Len Brown says Development Auckland will be a game-changer.
“Pulling together the development and community-building abilities of ACPL and Waterfront Auckland will give Auckland a real focus on how it grows,” he says.
“Development Auckland will help to use land the council already owns in a more productive way, which will give people a greater choice and higher quality of housing and commercial properties, and over time will transform some urban centres in the way we have seen Auckland’s waterfront transform over the past 10 years.”
Development Auckland is a council-controlled organisation. Its first board meeting will be held on 23 September.
