21 Nov 2017

$120m America's Cup village proposal revealed

5:03 pm on 21 November 2017

Details have been released of the preferred plan to build a $120 million America's Cup village on Auckland's waterfront.

Peter Burling waves to the crowd at the America's Cup parade in central Auckland.

Peter Burling waves to the crowd at the America's Cup parade in central Auckland in July. Photo: Photo / PhotoSport / William Booth

The America's Cup regatta in 2021 is being tipped as worth up to $1 billion, but much of that will depend on how many teams and superyachts Auckland can accommodate.

Council officials are recommending one of the cheapest options - building eight team bases across the Wynyard, Halsey Street and Hobson Wharves.

The plan would add a total of 23,000 square metres of wharf space across the three wharves but make the smallest impact on the harbour.

In a 100-page assessment, the cup defender Team New Zealand prefers a more expensive extension of Halsey Street wharf, but it is understood to be comfortable with the recommended option.

Councillors are being advised on Thursday to leave final negotiations in the hands of Auckland mayor Phil Goff and the senior executive, with a final decision to be voted on in mid-December.

The preferred option might be cheaper, but according to an economic benefit forecast released at the same time, may deliver a $237 million smaller cash injection into Auckland's economy.

The report, commissioned by the Ministry of Business, Innovation and Employment, forecasts a topend benefit of $977 million, based on 12 challengers, and visits by 159 superyachts.

Options being considered for a cup village on Auckland's waterfront have so far been based on seven challengers, and the preferred option will add only eight to 10 superyacht berths.

Earlier today, Team New Zealand unveiled the design for the boat it will use in the next regatta.

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