Auckland University's $2 billion two-decade upgrade is halfway as it narrows its focus from five to three campus sites and upgrades, demolishes or extends a swag of buildings.
Peter Fehl, the university's property services director, involved in the process since he left Victoria University in 2005, spelled out the scale of the work: "It's been about $920 million over the last 10 years, turning over just under $100 million a year and we're about to start the next $1 billion.
"We've got a plan - that keeps getting extended - for the next 10 years of capital works and that will be close to another $1 billion. We're looking at spending close to that ... on the current plan." The $2 billion comes from borrowing, fees, university income and more revenue-generating external research.
Fehl says the university could not afford to keep a static real estate portfolio. "Following decades of under-investment, many of the buildings were not fit for purpose," he said.