The Southland Chamber of Commerce has thrown its support behind the Invercargill City Council (ICC) to commit an additional $16 million investment into the Invercargill inner city redevelopment.

The board and management issued a statement today saying the project was an ongoing asset for the city, and that Southland businesses would be able to reap the rewards of a bustling and vibrant CBD in way they had not been able to before.

President Neil McAra said the Southland Chamber of Commerce fully supported the preferred option of ICC funding the shortfall to ensure the project would get across the line.

“A functioning CBD is key to the enduring viability of our business community, as well as giving our city a sense of centrality.”

The Chamber was keen to hear from its members as to their individual views on the public consultation, and is undertaking a survey of the business community in order to put forward a submission to the council.

At its council meeting this week, ICC decided it would engage in public consultation to ask ratepayers whether it should inject a further $16 million into the redevelopment, to make up the shortfall of an investor who withdrew from the project late last year. This is in addition to the $30 million already committed.

Efforts to find another funding partner have been unsuccessful and should the shortfall not be funded by the council, the project will not go ahead. Funding from the Provincial Growth Fund and Community Trust South is contingent on this $16 million being found.

Not having the CBD go ahead was not an option, Mr McAra said. He was mindful of how COVID-19 had affected perceptions of an investment in commercial spaces, but encouraged businesses to think long-term rather than the immediate situation.

“We’re certainly sympathetic of how COVID-19 is affecting everything at the moment, but we need to make these important decisions now so that we’re positioning the region for growth, and investing in our CBD would support this.”

The build would bring numerous construction jobs to the region, and the resulting complex would attract new retailers and therefore more jobs for Southland.

Despite COVID-19 hanging over everyone, McAra encouraged people to be mindful that the previous CBD’s infrastructure was an earthquake risk and was not a space that attracted potential businesses due to these safety concerns.

“COVID-19 hasn’t made those health and safety concerns go away and they were certainly off-putting for potential tenants.

“It’s important we keep our eye on the ball and remember why we’re in need of this project – which is because we need a functional CBD for generations to come,” he said.