News Around the World
Smaller and smaller sections for closer and closer jib sheeting. Oh yes, did we mention we also want our rigs to be stiffer than ever to get maximum benefit from our ʻtin sailsʼ – which offer clean exits and levels of deformity under load that sailmakers of 15 years ago could not have imagined possible. As TP52 sheeting angles have halved in recent years, from 7 to 3.5-degrees, so headstay loads have jumped by 70 per cent to 8.5 tonnes. No wonder booms are so far up to windward these days – ʻflaps downʼ, as they say
of explosive growth estate agents are hoping for more of the same. Graham Wall, who specialises in multimillion dollar properties, said all three challenger syndicates had approached him to source homes. ‘I’ve guaranteed they’ll make money on the deals if they buy now and hold them for three years,’ he declared… ‘You can’t rent the type of top-end properties they’ll want or, if you could, it would cost $10,000-20,000 a week.’ It has to be conceded that other agents were less bullish, but all reported recent approaches. Predicting the impact of major sporting events has not proved to be an exact science. How many Olympic, World Cup and America’s Cup cities have ended up disappointed, left with crumbling stadiums or other infrastructure as testament to grandiose folly? Auckland has been more fortunate in the past and hopefully will be again. Both previous defences in 2000 and 2003 proved to be of significant economic benefit – enabling ETNZ to argue that public expenditure in the 2021 defence was a solid investment rather than a handout. In the 2000 regatta, for example, one study suggested the event added $473 million to Auckland’s regional GDP, plus a further $640 million to the national GDP. The 2003 regatta generated net expenditure of $523 million. The legacy benefits have also proved of lasting value, with the Viaduct Basin area transformed from a backwater to a vibrant centre of restaurants, apartments, office buildings and hotels. The Wynyard Quarter is a further extension of that development and will gain renewed impetus from the Cup.
A recent projection by international real estate group CBRE predicts the 2021 Cup defence will generate net expenditure of anything from $400 to $900 million – despite fewer syndicates and a shorter timeframe. It estimates teams will create a requirement for between 550 and 900 rental dwellings. ‘Auckland’s inner city apartment market is already under pressure and has little capacity to absorb this syndicate-driven demand,’ says the report, suggesting that a certain amount of the slack will have to be taken up through Airbnb-type arrangements.
Between them the council and the government are committed to spending $212 million on construction and running costs for the Cup, $114 million from taxpayers and $98.5 million from city ratepayers. On top of this, the Auckland city council is investing
18 SEAHORSE
$55 million of new money and bringing forward another $53 million of expenditure on a raft of projects to spruce up the waterfront for both the Cup and for the Asia-Pacific Economic Cooperation conference Auckland is also hosting in 2021.
After several months in which Cup news has been scant, further physical evidence of progress took place in early October when ETNZ moved into the city-owned Auckland Events Centre. This will mark a sea-change in the team’s working environment. Following the ignominious failed 2003 defence the team was forced to vacate its original Viaduct Basin facility to make way for a hotel development. For the past decade it has been operating from a much less salubrious collection of containers and huts on a local industrial site; its facilities at Valencia and Bermuda were also strictly utilitarian, belt-and-braces affairs that underscored the no-nonsense, no-frills character of the team.
In contrast, the Events Centre is an attractive modern building with large halls, perfect for accommodating yachts, sail lofts, main- tenance bays, workshops and gyms, plus office space for the design, sailing and administration teams. It will also accommodate the America’s Cup Event (ACE) group responsible for organising the regatta, leaving ETNZ to concentrate on sailing. Meanwhile, 60km north of Auckland in the small provincial town of Warkworth, the Larry Ellison-owned Core Composites Builders have been focusing all their energies on producing the six F50 cata- marans for the SailGP series spearheaded by Sir Russell Coutts. A visit to the facility revealed some further details following the London launch of the new series (issue 465). The Core team have built two new identical platforms and equalised four existing AC50 platforms from the Bermuda series, with new bolt-on bow and stern sections, new cockpit layouts and new one-design foil-control systems. The yachts all use newly built identical foils, but while they will have two sets available, for light and heavy conditions, it has been confirmed that it is the race committee who will decide which set they must use on the day.
There has not been time to build new wings, so for the first season refurbished wings from 2017 will be used. The big difference is that on the F50 the hydraulic pressure for foil and rudder control will be supplied by battery-powered electric pumps.
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PAPREC RECYCLAGE
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