What exactly is the holdup in Christchurch? A year has passed since the Canterbury Earthquake Recovery Authority drew up a plan for the rebuild of the city centre but nothing seems to be happening. One potential investor, the New Zealand Super Fund, has expressed its frustration. The fund's chief executive,
Editorial: Christchurch rebuild needs more action
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Empty space, sadly, is available in abundance in what remains of the Christchurch CBD today. Photo / Geoff Sloan
There is nothing sacrosanct about the precise positions of the authority's envisaged sports stadium, convention centre, "innovation precinct" and the like. The whole purpose of these proposals was to give private property owners the confidence to reinvest their insurance payouts in the inner city. If any of them are willing to reinvest without that encouragement, it makes no sense to stand in their way.
Big ambitious projects, advanced without finance or a definite construction programme, can do more harm than good. They can arrest natural redevelopment of the designated area. In an area devastated by earthquake, where even the roads, drains, water supply and sewers need to be replaced, the uncertainty of unfunded major projects is even more serious.
The infrastructure supplement we published last Monday revealed the rebuild of Christchurch's surface and underground services is now about 30 per cent complete. But in the city centre, where a demolition cordon was removed only two months ago, the repair of roads and reticulation has barely started. That work, too, will now await more definite plans for the stadium, convention centre and the rest.
If the Government and its recovery authority are serious about these "anchor projects", they need to start showing it. Potential investors need to see definite proposals, so do property owners nearby, and builders and subcontractors. None of them can afford to wait forever.
The country, meanwhile, waits to see what the economic impact of the rebuild will be. The expected stimulus may be uneven when resources are drawn south. Until it starts, we can only wonder.