Government Confirms $ 50 Million Loans to Queenstown Council

The government has confirmed that it will grant more than $ 50 million in 10-year interest-free loans to the Queenstown Lakes District Council.

Queenstown.
Photo: 123RF

Money will be used for major infrastructure projects near Queenstown, allowing the construction of 1850 homes in Kingston and new green sites on the Frankton Flats.

The median value of the house in Queenstown

Although the city council introduced a series of measures to address the affordability crisis in the district, he long admitted that he could not do it alone.

The government has now come to the party by providing $ 52 million in interest-free loans from its Housing Infrastructure Fund to allow residential development on more affordable land at the same time. outside Queenstown.

The first 950 homes in Kingston are expected in 2020.

Mile, just outside Frankton.

Housing and Urban Development Minister Phil Twyford said other announcements were expected for the district council working with the Ministry of Enterprise, Innovation. and Employment, and the New Zealand Transportation Agency on further development at Ladies Mile 12 kilometers northeast of Queenstown.