A bit of puffery here, every waterfront in every major city with a downtown has been gentrified. It would have happened in AK anyway but the AC gave it an adrenaline shot.Precisely Sailbydate, thanks for pointing that out. No less inaccuracy than one would expect.
What has not been 'crunched' is, as I mentioned in my latest piece' the long term benefits of the waterfront developments for AC 2000/2003 which some 20 years later are still generating various benefits to Aucklanders and the wider New Zealand population. Those benefits include the image of the Auckland waterfront, financial benefits in terms of employment, business profits and tax dollars and social benefit in the more comfortable ambience of that area of Auckland. "Hard numbers', as Anarchist David puts it, really doesn't account for the fiscal value of these benefits. some of which would require a qualified sociologist to attempt to put a value on. Of course it wouldn't benefit the naysayers' argument to include those just as lumping (as I heard) the required waste/storm water improvements in as an AC cost when they were required, and overdue, in any case.
The term "lies, damn lies & statistics" originally credited to Samuel Langhorne Clements seems quite appropriate in this context.