The Protection of Private Property Rights v Provision for the Public Good

There is an inconvenient truth about assuming private property rights will lead to economic development, is the totally understandable reality that developers won't do something that is not in their financial interest. Whether it is in everyone else's interest is irrelevant. No one is obliged to go bankrupt for the public good, and that is as it should be. But it can lead to a dog in a manger attitude to assets

Take this Wilson carpark between Elliott and Albert St. A building was demolished to make way for a high rise but has been used as a carpark for well over a decade and they are asking to keep it as commuter parking for another three years. This is a site RIGHT next to the CRL in the heart of the city centre. This pattern is replicated across Waitemata and it is deeply frustrating.

It may be the case that 30% of office space is empty, but housing IS needed and housing is essential to hold innovative and fun young people in this city where they can make their mark. It is essential for everyone who works and contributes. It is essential for seniors to age in place - seniors who play a huge role supporting their grandchildren etc while their parents work. Housing is the foundation of economic life. The Public Works Act means the site could be purchased for the government to build housing close to transport and jobs. But will they? No indications so far.

But they should. Development requires funding and it is the right moment for central government to prime the pump. Rather than spending an absolute fortune of taxpayer money investing in infrastructure to enable a little bit of housing on the rural fringe, why not put the money into building lots of rental housing where there is already infrastructure? It will cost less to maintain and have huge benefits.