A council body has four months to produce a viable film studio at Hobsonville Point or the land will be used for housing.
The council's economic development arm, Ateed, says 16 parties have shown an interest in a film precinct, which could create 435 jobs annually and attract film schools from AUT and Unitec.
The opportunity of a dedicated precinct for Auckland's burgeoning film industry tempted the Auckland Development Committee today to grant Ateed a four-month extension to come up with a firm proposal.
The extension follows plans by the council's property arm to build 441 houses and apartments on a prime 20ha site - part of the wider Hobsonville Point development where more than 3000 new homes are planned.
A masterplan by Auckland Council Property Ltd(ACPL) envisages recouping $36 million spent to date on the land with a tidy $34 million profit for the cash-strapped council.