Auckland's CBD Into the Future

Introduction | About the CBD | The CBD Board | The guiding documents | Activity in the CBD | Street and open space upgrades | Projects | Quarter plans | Residents advisory group | Funding | Research | Video clips | Living Room events | Action plan review project

Funding and budget

Budget

• Auckland City is investing a total of $810 million to transform and revitalise Auckland's Central Business District (CBD) and the Waterfront as part of a 10-year action plan that began in 2004.
• $401 million is currently allocated to a wide range of projects to transform and revitalise the CBD, including a streetscape and open space upgrade budget of $157 million.
• $409 million is currently allocated to developing the CBD waterfront including Wynyard Point and the surrounding area. This will provide much-needed capacity for growth in a central location and will be a significant visitor and international tourist attraction.

CBD targeted rate funding

• A targeted rate to fund development projects in Auckland's central business district was introduced for residential and non-residential ratepayers in the CBD in 2004 for a 10-year period.  In 2006, the collection of the targeted rate was extended a further two years to 2016.
• The CBD targeted rate will provide $167 million over 12 years to transform and revitalise the CBD.  The targeted rate funding covers the streetscapes and open space upgrade programme, and increased service levels for street cleaning and maintenance.
• After 12 years, the CBD targeted rate will be reduced to cover day-to-day operational costs, such as higher levels of street cleaning and maintenance.
• The additional funding from the CBD targeted rate will significantly speed up and expand the projects to revitalise Auckland's CBD as one of the world's most vibrant and dynamic business and cultural centres.
• The targeted rate is applicable to CBD ratepayers only. These are the property owners who will benefit most from Auckland City's CBD Into the future strategy. The targeted rate will be used exclusively for projects that will enhance the CBD. 

CBD projects completed to date

Since June 2004, Auckland City Council has completed $177 million worth of projects out of the $401 million allocated to Auckland's CBD Into the future strategy. The benefits of this investment include:

• improved urban environment due to streetscape upgrades and footpath renewals on K-Road, Lorne Street, Quay Street, Khartoum Place, Vulcan Lane, Swanson Street and Queen Street
• pedestrian focused signage erected to provide a sense of familiarity and orientation for both local users and visitors
• enhanced access to the CBD for passenger transport through the implementation of designated bus priority lanes on key transport routes
• increased activity and events in the CBD resulting in a more vibrant and dynamic place to live, work or visit
• coordinated planning and implementation of projects within the CBD through the introduction of the CBD strategy and action plan
• innovative parking guidance signs, advising motorists of available short-term spaces in CBD parking buildings.

Projects completed between July 2004 and June 2007

Projects underway or planned from July 2007

Other key projects in the CBD include the $350 million Britomart above ground project, New Zealand's largest heritage redevelopment, to be carried out by Bluewater. The project entails the renovation of 18 heritage buildings and the development of eight new buildings in the Britomart precinct.