- Trust Tairāwhiti has secured the Emerald Hotel and several neighbouring properties, including the Victoria Plaza in the city centre.
- The acquisition brings a key gateway site under local control to support long-term city centre revitalisation.
- Planning and design work will now begin to test future options.
Trust Tairāwhiti has taken a significant step towards revitalising Gisborne’s city centre, confirming the acquisition of the Emerald Hotel precinct and several neighbouring properties.
The acquisition secures a prominent gateway site in the city centre that has been on the market for several years, creating an opportunity to unlock its long-term potential for the region.
Trust Tairāwhiti Chief Executive Doug Jones said the Trust had made a strategic decision to step in where the private market had not delivered.
“These properties are too important to leave to continued decline. As the community trust, Economic Development Agency and Regional Tourism Organisation, our role is to invest for long-term outcomes – for our people, our economy and our region as a destination.
Trust Chair John Rae said this type of investment is what sets the Trust apart from commercial investors.
“ We can take a broader view and invest in transformational projects that will create lasting value for Tairāwhiti.
“This outcome also reflects the close collaboration between Trust Tairāwhiti, Gisborne District Council and Gisborne Holdings Limited. By working together and taking a best-for-region approach, we’ve been able to build momentum for the city centre revitalisation,” he says.
“Securing this site gives us the opportunity to create something better over time and continue working alongside our partners to bring energy into the city.”
The investment is the first step in a staged approach. The Trust will stabilise operations and undertake planning and design work to assess future options, which could include upgrading visitor accommodation, improving commercial spaces and enhancing the public-facing environment.
The precinct includes one of the region’s only hotels and conference facilities, alongside commercial and heritage buildings at a prominent river-edge location.
Strategic partnership: City Centre revitalisation
The Emerald acquisition aligns with the wider City Centre Revitalisation programme being led by Gisborne District Council.
The programme seeks to revitalise the city centre through coordinated investment, bringing together public and private sectors and iwi partners to deliver both immediate improvements and long-term transformation.
Key areas such as Reads Quay and Lowe Street have been identified as strategic locations for creating spaces for play, gathering and connection to the awa.
Council’s commercial organisation, Gisborne Holdings Limited, recently acquired and upgraded the Bates Building on Lowe Street, building further momentum in the precinct.
Mayor Rehette Stoltz said the investments signalled real progress for the city.
“Revitalising the city centre will be a long-term, staged programme over the next decade, involving quick wins and major investments that will contribute to the overall vision.
“The acquisition by the Trust is a strong signal to instil confidence in our city centre that will attract further investment.”
