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Wellington’s council reviews Golden Mile project amid $81M cost overrun and funding risks.
The Wellington City Council has launched a review of the Golden Mile project, now projected to cost up to $220 million—up from $139 million—due to escalating expenses, including a $15–25 million shortfall in the Courtenay Place section.
The review, costing $200,000–$400,000 and expected to take three to six months, will assess financial risks and long-term economic impacts without re-evaluating the project’s goals.
Council leaders cite outdated cost estimates and concerns over ratepayer exposure, while cautioning that changes could jeopardize a 51% government funding commitment based on a four-year-old business case.
The vote to proceed passed 12 to 4, with some councillors expressing fears the review could lead to project termination.
New councillors used their first speeches to highlight unaffordable housing and deferred infrastructure.
El consejo de Wellington revisa el proyecto de la Milla Dorada en medio de un exceso de costos de $81 millones y riesgos de financiamiento.