Interest sought for projects that support inner-city living in Rotorua
Interest sought for projects that support inner-city living in Rotorua
Rotorua Economic Development Ltd (RED) is now seeking expressions of interest for Transformational Placemaking Projects that support inner-city living.
Chief executive Andrew Wilson says that the CCO’s extended role of delivering transformational place making developments on behalf of Council and optimising Councils strategic land assets means RED now has the ability to move with pace.
“We’re really enthused about the opportunities this extended role allows for in the housing space and beyond. Essentially, when it comes to housing, it means we can work more directly with developers and potentially fast-track builds without compromising the integrity of the process.”
RED is seeking expressions of interest from landowners and developers who are wanting to undertake a project in the inner city which supports inner-city living, our preference in the first instance will be working with local landowners and developers.
“What we’re looking for in particular are projects that are ideally with a scale of at least four storeys, can be constructed and completed within 3 – 3.5 years, and support a volume of residential units appropriate to the strategic location of the project,” said Mr Wilson.
This initial expression of interest process is the first stage of seeking out projects that support inner city living. This process will be open for three weeks with a view of shortlisting to 2-3 projects to continue to the next stage. Following this landowners and developers will still be able to submit their project ideas to RED on an ongoing basis.
RED will also provide a range of support to suitable projects by matching land development opportunities with investors and developers; undertaking project feasibility; providing partnership funding and or Council land; and other enabling assistance or investment where appropriate.
“Our inner-city has huge potential to become a thriving place to live and enjoy. With developments at the lakefront currently underway, and more businesses choosing to locate themselves the CBD, inner-city living can only enhance the CBD at the same time addressing the housing shortage.”
In July this year, Rotorua Lakes Council agreed to extending RED’s role acknowledging that new approaches were required by Council to support the private sector to deliver large-scale projects that support inner city living and drive positive transformation in the CBD.
Further information including frequently asked questions can be found here: Expressions of Interest for Landowners – Supporting Inner City Living | Rotorua NZ