Ngāti Whātua Ōrākei has a new private investment partner to develop Te Tōangaroa, prime real estate in central Auckland. The deal will include commercial buildings and also extends to education and other initiatives that will benefit the iwi.
Ngāti Whātua Ōrākei deputy chair Ngarimu Blair says this is an opportunity for the city centre to again become a bustling area.
“The hopes are to see Auckland thrive again, off the back of Covid. To see these parks, cafes, bars, whatever else, all filled with people in the city. That’s our aim.”
Ngāti Whātua Ōrākei and PAG, one of the largest privately owned investment firms in Asia, and Auckland developer Precinct Properties, will develop two commercial buildings for long-term lease. And the iwi will put its stamp on the development.
![Ngarimu Blair at the iwi's downtown headquarters. Photo / Mike Scott](https://www.nzherald.co.nz/resizer/v2/HH57Q55OKRCEHJCDZXNFSUSRBU.jpg?auth=0e90eb4272f56ddf1894342a6129926ed1cf5be86fe0a95e2a42ffb539e93a09&width=16&height=11&quality=70&smart=true)