HuttNZ

Local News, Current Affairs and Events for the Hutt Valley Wellington New Zealand

Lower Hutt Daly Street Apartments

with one comment

Council owned company Urban Plus last week recommended that the council not proceed to lend $1.7 million to a developer as the risk was too great.

No doubt the council acted properly by insisting that Urban Plus complete due diligence, the question lies as to whether it is the councils role to fund a developer at all?

Public opinion would suggest that a greater level of transperancy is required by the council in any dealings involving funding especially all projects that involve private investment, or a project deemed to benefit a private investor.

So what of the Daly Apartment development now?

Is the project going to proceed? Was the councils money a necessary deal maker to complete the project?

 No doubt time will tell if any work will commence on this empty site in Daly Street.

Photos copyright HuttNZ

Advertisements

Written by HuttNZ

April 7, 2009 at 8:01 pm

Posted in Uncategorized

Tagged with ,

One Response

Subscribe to comments with RSS.

  1. […] a comment » Daly Street Apartments have risen from the […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: