The building, established and owned by Te Whare Hono ō Tūwharetoa Limited Partnership (a body that includes the TMTB, Tūwharetoa Settlement Trust, Tauhara Properties Limited, Tupu Angitu Limited, Ngāti Tūwharetoa Fisheries Holdings Limited, and Lake Rotoaira Trust) cost around $40 million to complete, said limited partnership chair Rakeipoho Taiaroa.
The district council was signed up as a tenant for 25 years.
“You have a mixture of investment from this end of the lake and the southern end of the lake. And, bringing them all together was a task. And then exchanging equity was a task also throughout the process, but now we've got there,” said Taiaroa at the opening ceremony.
He also expressly thanked the investment committee of Tauhara Properties Partnership Limited.
“Certainly the capability that we had in the beginning, wasn't there, and they bought it.”
Taupō Mayor David Trewavas hoped it would be a space that would serve the community for years to come.
“This building is not just a structure. It is a symbol of what can be achieved when people work together towards a common goal. And I believe it's the first partnership of this kind in this nation today... This space represents the rich cultural heritage and the bright future of our community. It is a place where we can come together, share our stories and build a stronger, more connected Taupo District. The Taupo District Council is thrilled to be part of this journey. We're excited to be in this building working alongside the iwi, our iwi, to create a vibrant and inclusive community.”
In an interview with Lake FM Trewavas said while he was originally keen on the council building for itself, various advisors, financial reports and modelling commissioned by the council suggested financially the figures for building or leasing “stacked up about the same.”
“I think a lease is a very good striking of the balances of what our requirements are at the moment.”
As well as the trust board and district council the building will house the Tūwharetoa Settlement Trust, Ngāti Tūwharetoa Fisheries Charitable Trust, the economic development agency Amplify, and destination marketing agency Love Taupō.
While some of the entities have already moved in, district council staff are expected to move in over the next few days.
