Private investment will determine CBD success

Quote of the day:

 

“The private sector will ultimately play the biggest role in the redevelopment of Christchurch’s central city so we want to do all we can to make it easier for them to invest in the city,” Mr Key says.

The government has a role to play in the rebuild but the future of the city relies on private individuals and companies having confidence to invest there for it to succeed.

Take the justice precinct as an example, public funds will build the court but it will require lawyers and support services using private funds to build offices too.

The rebuild plan is here.

2 Responses to Private investment will determine CBD success

  1. Denny says:

    I have heard nothing about consultation with the insurance industry. Private individuals and companies are not going to invest in buildings that cannot be insured, or that the premiums are so high as to make investment not viable. I have heard whispers from the business community that Chistchurch should not be building a CBD as such, but rather, have a series of hubs as have already begun to appear. Whatever, the biggest obstacle to investment is likely to be insurance.

  2. homepaddock says:

    Insurance is definitely a sticking point Denny. A friend was negotiating the purchase of a commercial building but the insurance company wouldn’t transfer insurance to the new owner, even though the liability would be the same, and the sale fell over.

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