Jade Stadium Redevelopment (project management) Essay

Jade Stadium Redevelopment (project management) Introduction The redevelopment of Jade Stadium, formally Lancaster Park, has been a project in development for a number of years. It is interesting to view the processes and changes in approaches to reach compromises, that have occurred in the lead up to this project especially with the stage the redevelopment is at now, (near completion). The emphasis placed upon planning and funding has had a huge impact to not only the time frame for completion of project but at a more basic stage of whether the redevelopment would even go ahead. The information used for this review dates back only as far as January 99, but even by that stage several years work had gone into pushing and†¦show more content†¦Revenue The funding of the redevelopment of jade stadium has played one of the most contentious roles in the planning of the entire project. The sticking point for many was the level of input by the city council, of tax payers money into the Jade Stadium project. This process is shown to have been very political and taken more time than any other part of the planning chain. $43 million was needed to fund the redevelopment of Jade Stadium. $4 million of this was provided by the Christchurch city council, which was also responsible for underwriting the loan for the rest of the project. This loan has been planned to be fully repaid in 16 years, according to the business plan. Other major sources of revenue for the Jade Stadium redevelopment have been, Canterbury Rugby, Canterbury and New Zealand Cricket and the catering licensee, Spotless Services Limited. All were involved in providing a business plan, which proved the viability of the project and the capability of Jade Stadium Limited to repay the loan in the prescribed time frame. Grants were also received for the project from other sources, including The Community Trust, The Canterbury Foundation and the Lotteries Grants Board. The business plan also explored other avenues for gaining additional revenue; these included the possibility of naming rights, and by way of rental and the use of the corporate facilities. With