Mr Dryden, who is chairman of the Glen Innes Business Association, is a shareholder in the project, which he said would create many opportunities for local firms.
In 2006, Dryden Property turned a rat-infested, asbestos-ridden factory in Apirana Ave into a modern commercial block.
Syndicate partner Southside Group developed Baverstock Park and Eastpark Village, and Orewa-based Hopper Developments is known for coastal lifestyle developments Marsden Cove Marina and Maygrove Retirement Village.
Construction company Arrow International is represented in the syndicate by subsidiary Arcus Developments.
The syndicate's name yesterday drew fire from Labour MP Phil Twyford.
"To call it Creating Communities when Housing New Zealand is actually in the process of destroying one is a bit rich."
Mr Twyford called on the agency to stop evicting Glen Innes people from homes and stop moving houses out.
NORTH GLEN INNES STATE HOUSING
* Three firms chosen for redevelopment syndicate.
* 156 state properties affected.
* 260 new homes proposed.
* 78 of these will be state-owned.
* 39 marked for community housing.
* 43 for private sale.
* 40 for upgrading.