Taranaki Property Investors' Association
Housing New Zealand (HNZ) and development partners NgÄi Tai ki TÄmaki and Gemscott Resources Limited have signed a heads of agreement to develop the 12,010sq m site on Great North Rd in Waterview into one-, two- and three-bedroom apartments. All the homes will be retained by HNZ for social housing.
“This is a great use of under-utilised land. The existing 20-unit HNZ complex at the site is coming to the end of its life but the site is large and in a great location. It is close to public transport, schools and parks,” Social Housing Minister Paula Bennett says.
“This announcement builds on projects already under way, with more to come, as part the Government’s comprehensive housing plan. More than 3000 social houses are expected to be delivered nationwide over the next three years through HNZ and community housing providers,” Mrs Bennett says.
The heads of agreement is the first step in formalising the key commercial terms for the development. Negotiations will continue and a finalised development agreement is expected to be in place by March 2017.
“The Ministry of Business, Innovation and Employment identified and purchased this former New Zealand Transport Agency land through the Crown Land Programme in May. The integrated development across this site and the adjacent Housing New Zealand land enables more homes to be built, and a better quality housing complex,” Building and Housing Minister Dr Smith says.
“The 100 net gain in social housing from this development is possible because of the combination of different Government housing initiatives. The site is a Special Housing Area, enabling fast-tracked development approval, it is part of the Crown Land Housing Programme and is also being financially supported by the significant additional investment in social housing.
“Step by step, development by development, we are resolving Auckland’s housing challenges as evidenced by the record level of residential construction work and the number of new houses in the pipeline for the city.”
The Crown Land Programme, which was set up in early 2015, is one of the Government initiatives increasing the pipeline of housing in Auckland. Key figures include: