Progress on funding for Auckland Harbour Bridge Cycleway
Post by Bevan Woodward, AHB Pathway Trustee and Project Director
The SkyPath planned for Auckland’s Harbour Bridge is set to progress with an initial funding proposal received from the Public Infrastructure Partnership (PIP) Fund.
Project Director Bevan Woodward says “We’re very pleased to advise that the Public Infrastructure Partnership (PIP) Fund have made an initial proposal to fund the $28 million required to build SkyPath on the Harbour Bridge.”
“The PIP Fund is managed by Morrison & Co, and its largest investor is the NZ Super Fund. They bring considerable funding expertise, having recently signed an agreement with the Government to design, build, finance and maintain two new schools in Hobsonville for the next 25 years.“
The PIP Fund’s proposal for the SkyPath project shares the financial risks and returns as follows:
1) A potential Council top-up is required only for the first four years if revenue is below 75% of the business case projections
2) Council receives a share of all revenue exceeding the business case projections
3) Ownership and control of the SkyPath is given to Council after the tolling period.
The PIP Fund’s proposal is subject to a due diligence review of the SkyPath’s estimated construction and operating costs. Their funding proposal has been forwarded to key stakeholders Auckland Transport, Waterfront Auckland, ATEED and NZTA seeking their feedback and requesting that they become involved in this opportunity. The goal of the AHB Pathway Trust is to start construction of SkyPath next year.
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Editor’s note: The Herald also has an item on the great news, with some additional reporting of interest.
Auckland Harbour Bridge, Bridges, City Centre, Funding, General News, Get Across, Infrastructure, Key Projects, Northcote
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Auckland Harbour Bridge, Auckland Harbour Bridge Cycleway, Bridges, City Centre, Funding, funding proposal, General News, Get Across, Infrastructure, Key Projects, Northcote, Public Infrastructure Partnership
Fullers (CAA Sponsor)
Themocracy
To think how far we have come from the days of us standing next to the Fanshaw Street onramp during evening traffic, waving a banner to get interest in the project.
It has already achieved huge public recognition, has achieved a 180 degree turn on the “it isn’t technically feasible” statements made to us at the beginning, and cycling & walking groups created much improved relationships with the authorities on the way. This is getting pretty mainstream these days. Hope it all comes to pass soon.
Can’t wait! The thought of riding to Devonport and Takapuna without the help of public transport, well worth 2 bucks each way!
When we were looking for a house, the decision was simple
Couldnt afford central or east
Didnt want to live south
Cant ride a bike to the shore
So we bought out west.
This could change so much!
Fantastic news. As Max says, its come such a long way. Great work Bevan et al.
10/10 for your stickabiity Bevin. Hang in there. These things take time. But this news means that it was worth it.