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An analysis of the Ateed proposal by CBRE property consultants for ACPL said the film studio would get the land for free for about 20 years and the council would be $24 million worse off in cash terms.
Ateed, which has used three consultants to fight its corner, said a film studio campus on 10ha of the land would provide 435 jobs annually and generate $483 million to the Auckland economy over 25 years.
The other 10ha would be used to build 315 homes.
Today, councillors will decide what to do with the prime council-owned piece of real estate, which is part of a large-scale development in West Auckland where more than 3000 new homes are planned.
First up, the Auckland development committee is expected to ditch plans going back to the former Waitakere City Council to establish a marine industry precinct on the land.
The failure of the marine industry to come up with firm proposals has freed up the land for other uses.
ACPL, responsible for managing the land, had plans for housing on 14ha and shops and commercial sites on 6ha, when Ateed expressed an interest four months ago and hired United States-based consultant MBS3, KPMG and Market Economics.
ACPL has hired CBRE property consultants and Colliers International to analyse the Ateed proposal.
A report to the committee, written and authorised by senior ACPL, Ateed and council staff, said the film studio introduced uncertainty and risks and would stop work immediately on building 80 houses.
Ateed wants more time, with a final decision in November.
Film Auckland board member Graham Dunster said a studio campus at Hobsonville Pt made sense.
He said repairing fire damage last year to the council-owned Auckland Film Studios in Henderson would still leave a constrained environment, but Hobsonville Pt would re-create that in a bigger and better facility.
"There is huge enthusiasm within the industry to support inbound productions," Mr Dunster said. "The more incoming material, the more chance of being able to tap into that, to upskill people and make the domestic industry more vibrant."
Housing v movies
Auckland Council Property Ltd
•Supports using whole 20ha for housing, shops etc
•Produced masterplan for 441 houses and apartments
•14ha for houses, 6ha for shops and commercial buildings
•Wastewater, stormwater and roading networks already in place
•Work can start immediately on 80 houses
•Council will recoup $36 million in costs and make $34 million in profit from land sales
•Between 10 per cent and 15 per cent of the housing would be in the affordable category
Ateed
•Supports 10ha for film studio campus and 10ha for 315 houses
•Plan provides $83 million to Auckland economy over 25 years
•Council gets to keep land
•Ateed and accounting firm KPMG have found local and foreign interest.
