Another building albatross on Visa

### ODT Online Wed, 24 Mar 2010
New Wellington hospital a financial ‘albatross’
NZPA
Wellington’s new regional hospital has been described as a “wonderful facility” by Capital and Coast District Health Board (DHB) representatives, but the huge cost of servicing its debt will present challenges into the future. At a Parliamentary health select committee today, the $377 million project, paid for entirely through a loan, was described by DHB chairman Sir John Anderson as somewhat of a financial “albatross”.

“When you put $377m on a Visa card there are going to be consequences.”
-Ken Whelan, chief executive officer

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Post by Elizabeth Kerr

1 Comment

Filed under Architecture, Construction, Design, Economics, Geography, Politics, Project management

One response to “Another building albatross on Visa

  1. I guess at least this albatross is about caring for the physical health of people- even though the financial health of the organisation is going to be sick for sometime. Maybe ‘hospital’ should be added to as one of the ‘multi purpose’ uses for our stadium!

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