The lush green paddocks of Drury South will be turned into 700 homes and an industrial park employing 5000 people with a helping hand from the Government's new investment vehicle.
As well as 45ha for housing, the project includes 180ha for an industrial and commercial park and 95ha of public open space - 36km south of the CBD.
Stevenson Group is planning to spend $300 million getting the land alongside its quarry at Drury ready for development, of which $68m in road and water infrastructure could be funded by the investment vehicle.
The funding would go into a major new arterial road running parallel to the Southern Motorway, and new water and wastewater connections, including a new pipeline to the main Waikato River pipeline.
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Drury South has been chosen for the first project to access the Government's $600m fund because it is has planning permission and the first houses could be built by 2019.
All up, 5300ha of land has been identified in Drury South, Drury West, Paerata and Pukekohe in the south of the city for fast-tracking housing through upgrading roads and building new railway stations at Paerata and Drury West.
In the north of the city, the investment vehicle could speed up work at Silverdale, Wainui and Dairy Flat. At Wainui, where the existing infrastructure can only support 2000 new houses, an investment of $200m could increase the figure to 5500.