Iwi group invests $100m on plans to revive local economy

7:12 pm on 13 July 2018

A Hawke's Bay iwi group is investing more than $100 million in commercial developments with plans to reinvigorate the local economy.

Napier CBD, pictured in 2014.

Napier CBD, pictured in 2014. Photo: 123rf

The Mana Ahuriri Trust has launched their plans to become one of the largest commercial property and asset owners in the region.

The trust is the post-treaty settlement governance entity that represents the Ahuriri and Napier areas.

The first project is set to start in September with a $20m retail development in Napier.

Trust director Warren Ladbrook said the project would turn an unsightly "gravel pit" into an large format retail strip.

It will house high-profile retail chains, including Briscoes and Rebel Sport, along with more than 150 customer carparks.

"The aim is to centralise and consolidate large format retail in Napier and is part of our vision of providing a better retail offering and experience, with greater employment opportunities," Mr Ladbrook said.

The Trust will also have a 50 percent shareholding in Ahuriri Airport Hawke's Bay and plans to develop an $60m industrial zone in Napier.

Napier Mayor Bill Dalton said Mana Ahuriri's plans were robust, progressive and would breathe new life into Napier.

"I'm particularly pleased at the many opportunities for employment these projects will afford our community," Mr Dalton said.

"They'll not only bring new blood into Hawke's Bay, but ensure our top local talent find reasons to stay, work and live here."