An economic impact assessment carried out on the proposed integrated lifestyle development at Bunyan Road has highlighted significant economic and social benefits for the Whakatāne District if the development goes ahead.

• Economic Impact Assessment - (PDF, 1.3 MB)

The assessment by Market Economics Limited, one of New Zealand’s leading independent consultancies, found that over the 20-year construction phase the project could generate more than $480 million in construction activity and over 7,000 jobs, excluding any potential transfer effects.

The report also concluded that more than 80 percent of the benefits would be captured locally in the Eastern Bay of Plenty. Importantly, it was also determined that once fully developed the project would be expected to generate ongoing economic stimulus of more than $62 million a year with 900-plus additional jobs.

The proposed development would include a retirement village, residential housing, and a marine precinct, including canal-style housing, public boat ramp and neighbourhood retail facilities. The diverse nature of the project was expected to result in a wide range of benefits to the community, including a boost to Whakatāne’s national profile.

The strengthening of the town’s brand would be a wider, flow-on effect of the development, but a very important one says Whakatāne Mayor Tony Bonne. “It is critical that Whakatāne is positioned to attract its share of the baby boomer generation, who are now selling farms and businesses and relocating to warmer centres for their retirement years.”

“Council has previously identified the retirement sector as a significant opportunity given the District’s superior climate, lifestyle opportunities and the full range of services on offer, including the new regional hospital,” says Mayor Bonne.

“This view has been confirmed by the recently-formed Grow Whakatāne Advisory Board. The proposed development specifically caters to this opportunity, and although the Bay of Plenty is already the retirement capital of NZ, the combination of retirement, marina, and retail facilities will create a truly unique lifestyle and retirement environment.”

“Developing the marina component will assist the region to compete with Tauranga for boat spending,” the assessment notes, and “providing the support services locally will not only keep the funding within the local economy but will develop local knowledge resources, the marina and boat industry by unlocking some of the latent opportunities, new amenities, and new opportunities and avenues to use to develop the Whakatāne ‘brand’."

The assessment concludes that “a large development such as this one could play an important role in stimulating economic activity while improving Whakatāne’s profile,” a view supported by Evans Young of Hoppers Development Limited. HDL has also been investigating the feasibility of the proposed development of Council’s land at Bunyan Road, as part of the Heads of Agreement entered into with the Council in May last year.

“The ME report,” Mr Young says, “gives hope for those, both young and old, who wish to retain their association with their roots in Whakatāne, by highlighting future social and employment benefits from the development of Council owned land on Bunyan Road.  It is imperative that Local Government recognises and responds to the challenges from larger urban communities in the contest of opportunities for the younger members of the community.”

Mayor Bonne concludes, “The proposed integrated lifestyle development represents the culmination of 30 years of town planning, with the land at 77 Bunyan Road acquired by Council in 1969, and officially zoned for residential development in 1976. Given the residential zoning, a developer could commence construction on the retirement and residential components in the very near future”.