Presentation to Governance and Administration Committee - JANUARY 2018 otakaroltd.co.nz - NZ Parliament

Presentation to Governance and
Administration Committee

          JANUARY 2018   otakaroltd.co.nz

Agenda
 •   Purpose
 •   Values
 •   Projects and Places
     •    Christchurch Convention Centre
     •    Metro Sports Facility
     •    Te Papa Ōtākaro / Avon River Precinct
     •    East Frame
     •    South Frame
     •    An Accessible City transport projects.
 •    Land divestment.

Constitutional Purpose
 To add value to Anchor Projects and Crown Land
 in a manner that balances good commercial
 outcomes against the Crown’s regeneration
 objectives, and supports the Crown’s exit over
 time on favourable terms.

What Is Ōtākaro?
•   Crown company, under Schedule 4A, Public Finance Act, to enable efficient and
    effective decision making.

•   Incorporated February 2016 and became functional in April 2016.

•   Independent Board to provide strategic direction to the Executive Leadership Team,
    with decisions in the interest of commercial value to the Crown, balanced against
    the Crown’s regeneration objectives for Christchurch.

•   Lean team, with the focus of a commercial company.

•   A Project Development Team to implement defined Anchor Projects.
•   A Strategy and Opportunities Team to manage land CBD land divestment.
•   Corporate services to support main activities.

•   Activities (including operational and administration expenses) are funded under
    Financing Agreement with Treasury

Ōtākaro Company Values
 •   Keep It Simple
 •   Make It Happen
 •   Do What’s Right.

Anchor Projects are all about
people – making Christchurch’s
central city a place people want
to live, work and visit.

Projects finished by Ōtākaro

       • Avon River Promenade – The Terraces and
         Worcester Street east.

       • Canterbury Earthquake National Memorial.

       • South Frame – Vanguard Square, Mollett
         Street, Evolution Square.

       • Rauora Park in the East Frame.

A world class venue – Christchurch
Convention Centre

•   Includes related accommodation, retail and hospitality facilities.
•   Construction underway, scheduled for operations in mid 2020.

NZ’s largest aquatic, indoor recreation
and leisure venue – Metro Sports Facility

•   Currently under review by the Minister for Greater Christchurch Regeneration. This
    review will include the possibility of combining parts of the Metro Sports Facility
    with the Multi Use Event Centre.

Connecting people with the river – Avon
River Precinct

       Te Papa Ōtākaro / Avon River Precinct is transforming the city
       waterfront.

Connecting people with the river – Avon
River Precinct
•   Watermark – finished 2013
•   Triumphal Arch and Bridge of Remembrance – finished 2015
•   The Terraces – finished 2016
•   Worcester Street East – finished 2016
•   Margaret Mahy Family Playground – opened 2015, finished First
    Quarter 2017
•   Canterbury Earthquake National Memorial – finished February 2017
•   Victoria Square restoration – scheduled completion March 2018
•   The Promenade – scheduled completion spring 2018.

Victoria Square               Canterbury Earthquake National Memorial

     The Terraces   Margaret Mahy            Bridge of Remembrance
                    Family Playground

New neighbourhood and central park –
East Frame

 •   900 new residences and third largest central city park.
 •   Public spaces began in late 2016 and opened in December 2017.

 •   First housing completes spring 2018 and progressively through next 8 years.

Places to meet, eat and relax – South
Frame

•   At the heart is a Greenway - a pedestrian and cycling corridor with gardens throughout.
•   Connects with four gathering spaces. Lanes provide vehicle access to businesses.

•   Most areas finished, others ongoing.

Making it safer and easier to get around
– An Accessible City

 • The new street designs will balance the needs and choices for people using any form
   of transport, and prepare the city for future network demands.

Making it safer and easier to get around
– An Accessible City

    • Manchester and Durham Streets finishing mid 2018.
    • Hospital Corner finishing August 2018, with some sections sooner.
    • Area around Victoria Square complete by May 2018.

Divesting land to achieve commercial
and regeneration outcomes
• Divesting surplus Crown-owned land.
• Recent divestments:
  •    Duncans Building on High Street (building finishing around late 2018)
  •    Future Farmers Market, adjacent to Avon River and Retail Precincts (building to
       begin in April and finish late 2018).
  •    A Hoyts Cinema complex, directly opposite the newly constructed Bus
       Interchange, close to Retail Precinct. Construction is underway and due to finish
       in spring 2018.

                              Concept for Farmer’s Market

Thank you.

Questions?