By David Hill, Local Democracy Reporter
The Kaikōura District Council released its concept plan for Wakatu Quay last year. Photo: Supplied by Kaikōura District Council via LDR
The Wakatu Quay project in Kaikōura has suffered a major blow, with the withdrawal of its preferred investment partner, Cooper Developments.
But Kaikōura Mayor Craig Mackle remains confident the council can still deliver on a new development.
Cooper Developments was chosen as the council's preferred partner earlier this year.
It is now citing short and medium term economic considerations as reasons for its decision to pull out of the project.
Mackle said the council had benefited from Cooper Developments' input to date.
"We are disappointed that we won't have the opportunity to continue to work together, but understand their wish to step away just now.
"The council is still committed to delivering a new development at Wakatu Quay.
"We will now pause and check whether our plans are still on the right track."
Kaikōura is planning for growth and is now on a strong footing for the future, despite the economic challenges it faces, Mackle said.
An aerial image of the proposed Wakatu Quay concept plan. Photo: Supplied by Kaikōura District Council
The town had bounced back quickly from the earthquake and had come through the worst of the Covid impacts better than expected.
"All the work we have done over the past few years on Wakatu Quay can still be factored into our plans for the development of this fantastic location.
"When we first considered concepts for Wakatu Quay back in 2019 we had to make some assumptions about the future.
"Now a lot of the assumptions are known, alongside the short term economic situation, and there are a lot of positives to add into the equation."
There were plenty of positives for Kaikōura, as other projects were making some significant strides, Mackle said.
Construction is expected to begin on the Link Pathway from the West End to Point Kean in the New Year, while a business case for the redevelopment of South Bay Harbour has been presented to government, and the Sudima Hotel has recently opened.
The Wakatu Quay project is supported by a $9.88 million grant from the government's Provincial Growth Fund.
Local Democracy Reporting is Public Interest Journalism funded through NZ On Air