19 déc. 1998 - "Blighted" Auckland state housing area sold to private developer

Description:

HOUSING New Zealand will collect about $13 million from a developer who wants to clear a blighted state housing area in Auckland's eastern suburbs and create a subdivision.

Earthmoving and subdivision contractor Kerry Dines signed up this week to buy just under nine hectares (about 22 acres) around Madeleine Ave and Esperance Rd near Glendowie College for a price that is undisclosed, but believed to be less than the top offer, $14.75 million, from a company that did not follow through.

The 89.5 hectares of state housing has 169 homes and another eight empty sites and has mostly been vacated by tenants.

It is best known as "Mad Ave" or "the street from hell" and sits on the Tamaki Estuary side of the ridge down from relatively posh St Heliers, across the college grounds from upmarket Glendowie's Riddell Rd and up the slope from the big state housing areas of Glen Innes and Pt England.

It has long been rated as Auckland's worst street and disowned by the surrounding suburbs. Finally Housing NZ gave up on it and took the property to tender through Jones Lang Wootton in October.

JLW director Don Harrington said strong interest came from residential developers and for some special-interest uses such as retirement villages and hospitals. The price was above recent independent valuations.

Mr Dines said his group, Dines Investment and Development, had assessed the property on the basis of a medium-density residential subdivision but was still "relatively undecided" on what to do.

He would meet Auckland City Council planners next week to discuss options. - NZPA
Source: DEVELOPER PAYS ABOUT $13M FOR WORST STREET.
286 words
19 December 1998
The Dominion

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