The Government has confirmed the Fast-track approval of an application to build 2,800 residential homes and a commercial retail precinct in Homestead Bay near Queenstown.
RCL Homestead Bay Limited lodged an application in June last year for the major development, which has now been approved by an independent Fast-track panel.
Infrastructure Minister, Chris Bishop said approval of the project took around six months from the panel’s appointment.
“The project is estimated to contribute $720.3 million to GDP and support around 4,420 jobs during construction,” said Mr Bishop.
“Over the last two decades, Queenstown Lakes has become one of the most expensive districts in New Zealand to buy a home, having the highest median sale price in the country in January 2026. Rental prices have also continued to rise in this time.
“The median sales price in Queenstown is around $1,000,000 higher than the rest of New Zealand. The supply of more affordable homes has not kept up with growth. This means long-term residents and temporary workers struggle to find affordable homes.
“This development of thousands of homes will make a real difference in Queenstown, where demand for housing is high
“The development has also been designed to minimise pressure on existing infrastructure. The panel found the project’s infrastructure approach, including independent wastewater systems was adequate, and could, in future integrate with the council’s wastewater network.”
The project is the 10th project to be approved through the Fast-track system.
