WELLINGTON, Feb. 14 (Xinhua) -- The New Zealand government and Auckland Council on Wednesday released plans for "a world class America's Cup village" on Auckland's waterfront to host the 2020-2021 cup defence.

It provides for at least seven syndicate bases around two basins in the Wynyard area, a reclaimed piece of land on the Waitemata Harbor at the western edge of the Auckland waterfront, with provision for restaurants and bars, public viewing, and hospitality areas, according to a government statement.

Economic Development Minister David Parker said in the statement that the proposal is "a win-win-win for all parties," reducing costs and environmental impact while offering an excellent venue for the defence.

The proposal offers the added advantage of bringing forward the redevelopment of Wynyard Point in line with the Auckland Council's longer-term plans, Parker said.

"The proposal will create a legacy for Auckland and all of New Zealand -- our main aim alongside creating a top-class venue for Team New Zealand and the Cup defence in 2021 and, hopefully, beyond," Parker said.

The Wynyard Hybrid option reduces the need for large extensions into the harbor while creating a vibrant and connected America's Cup village that competitors and the public can enjoy, he said.

"The America's Cup will be fantastic for New Zealand," the minister said, stressing to provide the infrastructure "in a timely manner" and "deliver an incredible event," said Auckland Mayor Phil Goff.