The Whenuapai Housing Development Partnership, made up of Pare Hauraki Iwi and Te Tumu Kāinga, a charitable trust administered by Te Tumu Paeroa, has purchased a greenfield site and is funding the construction of the development.
The partnership is working with New Ground Capital, Mike Greer Homes and the China Construction Bank to develop the 6,400m2 site. It is adjacent to other significant residential and commercial developments in the rapidly developing Whenuapai area.
Whenuapai Housing Development Partnership chair Paul Majurey says this is a significant investment for iwi.
“It also demonstrates the growing role of iwi in the local economy as we look to develop our commercial asset base in the post-Treaty settlement phase, which will only increase as more settlements are finalised, such as the Hauraki Collective and Marutūāhu Collective settlements,” Mr Majurey said.
Two other examples of iwi developing sites for housing are:
• At Waimahia, the community housing partnership that will this year complete a 300 house development (over 60% of which are social and affordable homes).
• At New North Rd, a housing partnership that will begin construction of a 110 housing unit development (over 60% of which will be affordable).
“Iwi will become more and more important as developers of housing projects, including affordable housing, which we hope will help ease housing shortages as well helping to grow the asset bases of iwi for the long term.”
Te Tumu Kāinga General Manager Declan Millin said: “this is an exciting opportunity for Te Tumu Kāinga. It enables us to extend partnerships with iwi organisations and create new relationships. Following our successful involvement developing affordable housing at Waimahia Inlet, the financial returns from this development will allow us to continue our charitable trust aim – delivering better accommodation outcomes for Māori.”