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.
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.
