Wolfbrook’s Pegasus housing plan: Fast-track rejection the right call
You were dreaming if you thought the Government’s fast-track rejection would be enough to put Wolfbrook Property Group off the idea of building 1000 houses on the old Pegasus golf course.
The resort-style golf club, north of Christchurch, opened in 2009 but went belly-up in March, owing about $9 million to creditors.
Wolfbrook is thought to have bought the land for about $6 million or $7 million and had hoped to use the fast-track legislation to get it rezoned for housing, sooner rather than later.
But, last week, the Government poured cold water on that idea, saying it would be more appropriate for the rezoning to be considered through the standard Resource Management Act (RMA) process.
You were also dreaming if you thought Infrastructure Minister Chris Bishop’s decision had nothing to do with the election being less than three months away.
Either way, it’s a temporary reprieve for Pegasus residents and others who are outraged by the proposed development.
I’m not one of them. I can understand why people living at Pegasus are upset. They say the golf course land’s special purpose zoning makes it a defining feature and is what attracted them to the area.
But how long can anyone expect things to stay the same?
Despite that, and my belief that the Government is just playing politics, I do agree with its decision.
Because, while I don’t have a problem with the developer’s plan, I think fast-tracking it would be bad for something that has become so controversial.
Yes, Wolfbrook bought the land through a lawful business transaction and it is theirs. But people need to feel they’ve had as much of a say as possible. That wouldn’t have happened if it was fast-tracked.
I was surprised at the number of callers to my radio show last week who said they thought the company had underestimated how controversial its proposal would be. I disagree. It would have known full-well what it was getting into.
Many people also said that, if they were running the company, they would drop the development plans, sell the land and move on.
That’s not what the company is doing, though. It announced on Friday night that it’s pressing on. Which could mean a second attempt at having its re-zoning application fast-tracked or going through the standard RMA process.
And quite rightly, too. I would do the same. But I do have some advice for Wolfbrook.
Stop being so arrogant.
For example, I have no idea what they were thinking when they filled the holes at the golf course with concrete last month.
As if they hadn’t done enough to get thousands of noses out of joint already, they rubbed them in the dirt with that carry-on. Which Pegasus residents, quite rightly, described as nothing short of childish.
They were at it again on Friday night. Criticising Chris Bishop and releasing illustrations and details of their masterplan for the area. Talk about red rag to a bull.
My other piece of advice is for the Waimakariri District Council, which needs to drop this idea of bringing a consortium together and trying to do a deal to buy the land and save the golf course.
Mayor Dan Gordon told me recently the council is talking to people prepared to put money on the table. But does he realise that, even in the highly unlikely event that Wolfbrook did agree to sell, he would need way more than the $6 million to $7 million paid?
That’s because when land is rezoned for residential use, it shoots up in value. For example, it’s been reported that Christchurch’s temporary stadium site in Addington has a rateable valuation of $6.6m. But, if rezoned for housing, its value would be about four times that.
Wolfbrook knows the goldmine it is sitting on at Pegasus and cutting its losses will never be an option.
What’s more, if the Waimakariri council and its consortium did somehow manage to buy the land, what sort of precedent would that set?
A very clear one. And every time someone, somewhere was upset about a piece of land in their neck of the woods being sold for development, it would be very difficult to defend the same strings not being pulled.
The NIMBYs would know that. So too would the developers. Who would have every reason to see the local council as some sort of get-out-of-jail card.
Catch up on the debates that dominated the week by signing up to our Opinion newsletter – a weekly round-up of our best commentary.