Wellington City Council is asking the government for money to help ease the financial burden of earthquake strengthening on building owners.
A report by Radio NZ detailed the initial findings of a new survey by the Inner City Residents Association, which shows apartment owners in Wellington could end up spending more, to make their buildings earthquake safe, than the actual value of their home. They are facing bills of between $93,000 and $805,000 to bring their home up to code – as required by law. This is despite the average QV of those units sitting only at $430,000 in September 2018.
Apartment owners said local and central government needed to do more to help – and fast.
Wellington City Councillor Iona Pannett said the council was trying to help apartment owners by offering grants, and an advisory service for owners.
“We have known, of course, for many decades we are in an earthquake prone city and so there is a responsibility, just as part of owning a building, to strengthen it,” Pannett said. “In saying that, of course, we know there have been significant changes with the insurance and construction market with some of these big earthquakes we’ve had.”
Meanwhile, Ministry for Business Innovation and Employment (MBIE) spokesperson Anna Butler told the publication there was financial assistance available for heritage buildings through the Heritage Earthquake Upgrade Incentive Programme.
The government has awarded $50,000 to the owners of a unique Hastings heritage building to assist them in their earthquake strengthening work.
In a report by NZ Herald, Associate Minister for Arts, Culture and Heritage Grant Robertson announced Poppelwells Building as one of several heritage buildings across the country that will be strengthened against earthquakes. The grant will help owners strengthen unreinforced masonry internal walls, he noted.
The grant comes from the Heritage EQUIP earthquake strengthening programme that will provide a total of $958,962 to recipients.
“About $116,490 in new grants will help regional heritage building owners get suitable professional advice,” Robertson told the publication.
Building owners Mayor Sandra Hazlehurst and her husband Mark applied for the Heritage EQUIP programme for funding. They reportedly said they could not be more thrilled with the announcement.
“The Poppelwells Building occupies a special place in our family’s history. It’s woven into our family’s heritage and also the history of Hastings,” Hazlehurst said. “It survived the 1931 earthquake and the Poppelwell family were trading out of it only a week after the earthquake hit.”
- Insurance Business
