"Some organisations even sent staff to Houston to watch the system at work, and a pilot of it effectively took place in Auckland with Fulton Hogan and its Milldale project.
What came out of all this broad political consensus was a new piece of legislation: the Infrastructure Funding and Financing (IFF) Act, which allows councils to set up Texas-style Special Purpose Vehicles (SPVs). It passed in 2020 with the support of every political party in Parliament, showing just how broad the surrounding consensus had grown.
Megan Woods says she is expecting three special project vehicle initiatives to come across her desk this year.
In the Houston Business Journal, Urban Reform Institute fellow Tory Gattis said: “if all goes well, there should be a tremendous increase in New Zealand housing supply in coming years which will help to ease prices.”
“Texans and Houstonians should be proud to serve as a model to the world for market-based approaches to affordable homeownership.”