Shelly Bay, foreign buyers and the housing blame game

Plans to redevelop Shelly Bay for housing are no longer on the cards (Image: NZME)

Mon, 04 Sep 2023

Another day, another project cancelled in Wellington. Shelly Bay’s sale to Peter Jackson and Fran Walsh after a long protracted fight is likely a casualty of the massive pressure from rising interest rates and an economic downturn. But it is also undoubtedly the casualty of an ideology based around the seemingly unshakeable belief developers who want to build more apartments and more houses are somehow causing the housing crisis rather than helping solve it.During a BusinessDesk interview with Shelly Bay’s former developer...

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