Backdrop standing by for showtime

By Nick Perry

AUCKLAND - The Viaduct Basin looks like a giant movie set - designers and hired help building a backdrop on a scale rarely seen in Auckland.

Backed by about $120 million in public money alone, everything is building towards showtime - the America's Cup.

Holes are turning into foundations, foundations into buildings and dirt tracks into cobbled walkways.

Nearly 400 apartments are taking shape around the water's edge. Mainly wealthy Aucklanders without families are buying them, say the salespeople.

Some intend to live there, some will use them as Monday-to-Friday city homes and others as a business base.

Latitude 37 is finished and its first building of 44 apartments, ranging in price from $205,000 to $725,000, has been sold. Stage two, a further 51 apartments, is due in August.

Work is under way on the 63 apartments and 144 serviced apartments which make up the Watermark development, as is work on the 85-apartment The Point.

One not impressed with all the activity is charter-boat owner Mike Pigneguy, whose business is based alongside the basin.

He bemoans the lack of culture spots, such as theatres and markets, and says a pile of expensive apartments alone will not make the thriving people-place promised by many.

But Burger King head Dennis Jones is sold. He paid close to $2 million for two combined apartments for himself, his wife and daughter.

Mr Jones says he likes the idea of not having to mow the lawn, or commute, and being close to hundreds of places to eat out.

He is not a big sailing fan, but says he is "getting more into it."

The "public" side of the redevelopment is rapidly nearing completion.

Two big squares, Waitemata Plaza and Market Square, which will host some of the ceremonies during the cup, should be finished by May.

A public walkway encircles the development. The Auckland City Council has poured $40 million of ratepayers' money into the squares, walkway, seawalls and stormwater improvements.

The viewing island is receiving its finishing touches. Built on top of almost 400 piles, with access from the old viaduct drawbridge, now fixed in place, the island takes the public to within a short swim of the syndicate bases.

However, ordinary punters will have to share the space with guests of seven corporate chalets.

Across the gap, the big black base of Team New Zealand, first off the ground, is slowly being flanked by other entrants' bases which are nearly completed.

A $70 million contribution by the Auckland Regional Services Trust (now Infrastructure Auckland) and $10 million from the Government, have paid for the reclamation, new wharves and breakwaters, and the base facilities.

Infrastructure Auckland hopes to get most of the money back. Estimates of the event's economic benefits to the Auckland region run to the hundreds of millions of dollars.