The plan is for 20 per cent of the dwellings to be sold below the HomeStart cap of $650,000 and 20 per cent to be made available for social housing.
“The opportunity to develop the land will first be offered to Ngā Mana Whenua through its Limited Partnership, in line with the Development Protocol under the Deed of Settlement with Ngā Mana Whenua o Tāmaki Makaurau. If an acceptable proposal is not made by the Limited Partnership, the development opportunity will then be offered to the top-ranked developer on MBIE’s private sector developer panel.
“This site is just 12.5km from the Auckland CBD and 1.5km from the Te Atatu Peninsula Town Centre, as well as being within easy walking distance of a bus stop, schooling and parks. It is an ideal development site for new housing.”
Community housing providers (CHPs) are encouraged to be part of the development. The Ministry of Social Development will connect interested CHPs from its panel of preferred providers with the developer once confirmed.
The Government is providing $144.5 million to help CHPs fund these types of developments. CHPs can apply for up-front funding of up to 50 per cent of the value of the development, or a weekly grant of up to 50 per cent of market rent on top of the current rental subsidies the Government provides once the properties are built, or a combination of both up to the equivalent level of funding provided by either the upfront funding or weekly subsidy alone.
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