The East Auckland communities of Glen Innes, Point England and Panmure will be transformed over the next 25 years after the council and Government agreed to form a company to redevelop the area.
The Tamaki Transformation Company, which will have a board of up to seven directors, will push for more and better state housing, develop private housing and create jobs and enterprise in the area.
The project aims to create safer and more connected neighbourhoods. It will bring together local community, Government, business, education, social agencies, developers and financiers to redevelop the area into a more prosperous one.
The creation of New Zealand's first urban redevelopment company comes following research examinnig ways to transform the Tamaki area into a ''thriving, prosperous, attractive and self reliant community''.
Housing Minister Phil Heatley said East Auckland was chosen because it was an area with ''significant potential''.
''It is close to the Auckland and Manukau central business districts. It has a young population, a sense of history and community, green spaces and near-coastal location.
''Tamaki is a key growth area for Auckland and its future prosperity will have a flow-on effect for the rest of the country."
The company will have offices in the Glen Innes town centre from where public and private partnerships will be formed to resource the project.
Debra Lawson will be the chief executive. She has 20 years experience as a chief executive in organisations delivering affordable homes and social infrastructure in the UK. Board appointments are expected to be made in the next few months.
Heatley said similar companies had been successful internationally and if the project worked it could be a blueprint for urban renewal elsewhere.
Auckland Mayor Len Brown welcomed the partnership and said the initative reflected what the council hoped to achieve across the city hrough the Auckland Plan.
"The people of Tamaki have been waiting for this for a long time and this is a great project for the new Auckland to be getting on with."
- Auckland Now
Have you ever been caught out by a TradeMe deal gone wrong?Related story: (See story)