Will Tamaki Regeneration meet its targets?

The NZ Herald have reported new figures that reveal 213 houses, 2.84 per cent of 7500 homes to be built in the next 10 to 15 years as part of the Tamaki Regeneration project, have been built to date.

Over the next year the Tamaki Regeneration Company (TRC) chief executive John Holyoake said it planned to deliver between 320 and 400 new social, affordable and private market houses in the area in the next 12 months.

“TRC has been ramping up its build programme since taking over the ownership and management of the social houses in Tāmaki in April 2016.”

If it continued at the more optimistic rate of 400 houses a year for the next 15 years this would see an additional 6000 built, which even with the 213 already built would still be short of the target 7500.

In early 2016 TRC, a joint government and Auckland-council owned entity, took ownership of the 2800 state houses from Housing New Zealand.

It planned to demolish 2500 of these former state homes across Glen Innes, Panmure and Point England and build 7500 new homes within 10 to 15 years.

The regeneration programme would see a net addition of 5000 “affordable” and market-priced homes, while the number of social houses would stand at 2800.

At least 1000 (20 per cent) of these houses would be sold at “affordable” prices of $650,000 or less.