Nga Potiki's Te Houhou block was acquired as part of its commercial and cultural redress following Crown breaches of theTreaty of Waitangi.
The hapu will seek "maximum value" from the land, but pledges it will be socially and culturally responsible.
Trustees of the Nga Potiki a Tamapahore Trust said it wanted trade training apprenticeships to be part of its development. It was aiming at housing densities of 17 houses per hectare, including aged-care living - higher than the council's planning framework for Wairakei of 12 to 15 houses per hectare.
It said optimising land use was critical to supplying "truly affordable housing solutions".
Wairakei has become the second proposed SHA to be announced by the council, joining a one-hectare block in Waihi Rd where the maximum price for 32 affordable homes would be $350,000.
The 700 sections to be offered by the Carrus and Hawridge developments did not involve housing companies having a stake. However, land and section packages in the 835 sections offered by the Golden Sands and Zariba Holdings developments saw three-bedroom homes starting at $350,000 and $375,000, and rising to $455,000 for Golden Sands.
A public open day will be held next Tuesday from 3pm to 7pm at Golden Sands Primary.