Iwi paving the way for home ownership
Ngāti Whakaue Tribal Lands are addressing the current housing shortage in the Bay of Plenty by launching an affordable new-build scheme for whānau and shareholders.
The latest in a series of initiatives to improve the wellbeing of NWTL, Ray Morrison, general manager of NWTL says the announcement is the result of a decade-long drive and is only the first step in providing opportunities to support whānau in their home ownership and housing journeys.
“We’re making sure we are doing all we can to establish real pathways to home ownership for our people and we’re utilising our land to achieve this,” says Ray.
NWTL will provide eligible first home buyers with an opportunity to purchase one of eight new homes in Stage One.
Future stages will also offer similar proportions of affordable homes as the development progresses over time.
“Our site is consented for just over 200 homes which are expected to be built over the next few years – starting before Christmas. Long term we are aiming for 13 stages which may provide more than 1000 homes in the next two decades,” says Ray.
“The aim is for a consistent flow of housing with construction on the first stage getting underway within the next five months.”
The new Wharenui Rise subdivision which is located in Owhata, incorporates a mix of affordable and general market homes.
Targeting first home buyers, the affordable homes will be three-bedroom, one-bathroom, one-carpark, high-quality brick and tile homes, priced at $500,000 (incl GST), more than $100,000 below the median house price in the city.
First preference will be given to Ngāti Whakaue shareholders and whānau, with registrations of interest open from July 12.
“To register, interested parties must meet our key criteria and requirements for eligibility,” says Ray.
“They need to be able to provide evidence of their shareholding in, or whakapapa to Ngāti Whakaue Tribal Lands.
“They also need evidence of how they intend to finance their purchase, for example pre-approval from their bank.”
Access to additional Government financial assistance such as the First Home Grant or Kiwisaver drawdowns may be available to first home buyers interested in the development.
Initial applications close at the end of September with a ballot process due to take place on October 1, 2021.
Successful applicants from the ballot will be offered an opportunity to purchase a home after October 4.
Those who are not successful will be placed on a waiting list and notified if an opportunity arises for them to purchase one of the affordable homes in the future.
The affordable housing scheme is part of NWTL’s wider housing strategy which also aims to support whānau through long term rental accommodation and kaumātua who may be interested in papakāinga housing options.
“Our Whakatauki is Mana Whenua, Mana Tāngata. We are committed to upholding the honour of both the land and the people,” says Ray.
NWTL will be officially announcing the affordable housing strategy this Friday, July 9, from 3pm – 4.30pm at Te Papaiouru Marae, Ohinemutu, Rotorua.