Source: New Zealand Government
Infrastructure Minister Chris Bishop has welcomed the Fast-track approval of thousands of new homes and a major economic boost in Queenstown.
RCL Homestead Bay Limited lodged an application in June 2025 to construct 2,800 residential homes and a commercial retail precinct, which has now been approved by an independent panel.
“Approval for this project took around six months from the panel’s appointment,” Mr Bishop says.
“The project is estimated to contribute $720.3 million to GDP and support around 4,420 jobs during construction.
“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.
“This is the 10th project to be approved through Fast-track, and it shows the system is working to get much-needed infrastructure off the ground faster.”
Notes to editor:
For more information about the project: Homestead Bay.
Fast-track by the numbers:
- 10 projects approved by expert panels.
- 19 projects before panels for consideration.
- 149 projects are listed in Schedule 2 of the Fast-track Approvals Act, meaning they can apply for Fast-track approval.
- 49 projects are currently progressing through the Fast-track process.
- 28 projects have been referred to Fast-track by the Minister for Infrastructure.
Fast-track projects approved by expert panels:
- Homestead Bay [Housing/Land]
- Bledisloe North Wharf and Fergusson North Berth Extension [Infrastructure]
- Drury Metropolitan Centre – Consolidated Stages 1 and 2 [Housing/Land]
- Drury Quarry Expansion – Sutton Block [Mining/Quarrying]
- Kings Quarry Expansion – Stages 2 and 3 [Mining/Quarrying]
- Maitahi Village [Housing/Land]
- Milldale – Stages 4C and 10 to 13 [Housing/Land]
- Rangitoopuni [Housing/Land]
- Tekapo Power Scheme – Applications for Replacement Resource Consents [Renewable energy]
- Waihi North [Mining/Quarrying]
Expert Panels have been appointed for:
- Arataki project
- Ashbourne
- Ayrburn Screen Hub
- Bendigo-Ophir Gold Mine
- Green Steel
- Haldon Solar Farm
- Kaimai Hydro-Electric Power Scheme
- Lake Pūkaki Hydro Storage and Dam Resilience Works
- Mahinerangi Wind Farm
- Pound Road Industrial Development
- Ryans Road Industrial Development
- Southland Wind Farm Project
- Sunfield Masterplanned Community
- Takitimu North Link – Stage 2
- Taranaki VTM Project
- The Point Solar Farm
- Waitaha Hydro
- Waitākere District Court – New Courthouse Project
- Wellington International Airport Southern Seawall Renewal
