May 18, 2021
Iwi retain ownership of buildings & land in Shelly Bay partnership
Media release: Iwi retain ownership of buildings & land in Shelly Bay partnership
Current and future descendents of Taranaki Whānui will benefit from the evolving partnership agreement between Port Nicholson Block Settlement Trust (PNBST) and the Wellington Company at Shelly Bay Taikuru.
Taranaki Whānui Limited (the commercial arm of PNBST) and The Wellington Company have agreed terms that will ensure mana whenua remain connected through tribal ownership of land, buildings and cultural assets.
The agreement will see a number of the existing waterfront buildings and other heritage buildings being redeveloped as commercial assets with ownership being retained in Taranaki Whānui via a joint venture partnership.
At the heart of Shelly Bay Taikuru will be a purpose-built Wharenui â€“ Te Whare Marukaikuru â€“ located in a designated green space or cultural reserve, together with an artist in residence programme to support Taranaki Whānui artists and the establishment of an education endowment fund and training/employment opportunities for Taranaki Whānui members.
Members of Taranaki Whānui will be eligible to participate in a home ownership programme as part of the wider Shelly Bay Taikuru development as well as homes developed by The Wellington Company in Mt Cook and Te Aro.
The Wellington Company Director Ian Cassels says he believes the partnership is a first of its kind in New Zealand’s property development sector and had taken years of hard work.
“Our partnership represents a unique blend of cultural and commercial interests that will deliver significant benefits for future generations, while respecting the iconic beauty of the peninsula and the people who live here.”
Taranaki Whānui Limited Director Jamie Tuuta says the parties have worked hard to secure an outcome that delivers the greatest good for the current and future descendants of Taranaki Whānui ki Te Upoko o Te Ika.
“We know not everyone will agree with the development, but those directly involved in this Kaupapa know the gains we’ve achieved and the progress we’re making for our people.
“Shelly Bay Taikuru is part of a broader strategy to grow the tribal asset base for current and future beneficiaries and preserving our mana in Te Whanganui-a-tara.”
The parties will continue to work with Wellington City Council on establishing the necessary infrastructure to support the development at Shelly Bay Taikuru, for the benefit of the wider community.
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