$7.2m loan leads to more homes for Pāpāmoa
A $7.2m government loan will help more than 30 Bay of Plenty families step into home ownership.
“We can confirm Manawa PHO Limited, the housing arm of Ngā Pōtiki has received support to provide progressive home ownership opportunities," says Housing Minister Dr Megan Woods.
"The loan will help at least 30 whānau step into home ownership in Pāpāmoa."
Woods made Monday’s announcement when she visited the Manawa subdivision in Pāpāmoa developed by Ngā Potiki.
Ngā Pōtiki has a housing arm - Manawa Community Housing Trust (Manawa CHT), and Manawa PHO Limited will receive the loan for $7.2 million which enables Manawa CHT to scale up its own PHO scheme and construct 30 more homes.
The Manawa subdivision is in the Eastern Growth Corridor for Tauranga, where there will be 240 residential sites in total.
There are already ten Ngā Pōtiki whānau in home ownership in Manawa with 80 other expressions of interest, through Manawa’s shared equity scheme.
The Government’s loan through the PHO Fund enables Ngā Pōtiki to scale up and construct at least 30 more homes.
“The Ngā Pōtiki Progressive Home Ownership (PHO) Programme will support us to expand our shared equity home ownership scheme to more than 30 Ngā Pōtiki whānau and assist them into home ownership," says Victoria Carroll of Nga Potiki.
“Tauranga is one of the most expensive cities in which to buy a home. That’s exacerbated by low household worker incomes for Māori, so we need these innovative programmes to assist hard-working whānau into home ownership.”
The Government’s $400 million PHO Fund will help between 1500 and 4000 families buy their own homes.
The Fund will scale up funding for organisations already providing PHO schemes with wraparound support services, such as budgeting advice.
As part of this approach, there will be a dedicated iwi and Māori pathway, with a specific focus on better housing outcomes for Māori.
The first phase of the Fund began in July this year with loans to providers in Auckland and Queenstown who are supporting around 100 low to median income families seeking home ownership.
Two of these families have already moved into their own homes – in Flatbush, Auckland.
From early 2021, households at or above median incomes will be able to access progressive home ownership arrangements directly from Government through Kāinga Ora – Home and Communities.
Chair of Ngā Pōtiki ā Tamapahore Trust Colin Reeder says there are more than 200 whānau and elderly on the Ngā Pōtiki waitlist for homeownership and rental accommodation.
“We want our Ngā Pōtiki people to be able to continue living in their rohe, to be close to their whānau and marae, to stay connected to their whenua. Therefore, we need to help create housing here in Pāpāmoa that our people can afford to live in.”
Minister Woods alongside Labour MP for the Waiariki electorate Tamati Coffey. Photo: SunLive.
Chair of Ngā Pōtiki ā Tamapahore Trust Colin Reeder greeting Minister Woods. Photo: SunLive.