Friday, 19 August 2022
Meet the JournalistsPremiumAucklandWellingtonCanterbury/South Island
CrimePoliticsHealthEducationEnvironment and ClimateNZ Herald FocusData journalismKāhu, Māori ContentPropertyWeather
Small BusinessOpinionPersonal FinanceEconomyBusiness TravelCapital Markets
Politics
Premium SportRugbyCricketRacingNetballBoxingLeagueFootballSuper RugbyAthleticsBasketballMotorsportTennisCyclingGolfAmerican SportsHockeyUFC
NZH Local FocusThe Northern AdvocateThe Northland AgeThe AucklanderWaikato HeraldBay of Plenty TimesHawke's Bay TodayRotorua Daily PostWhanganui ChronicleStratford PressManawatu GuardianKapiti NewsHorowhenua ChronicleTe Awamutu Courier
Covid-19
Te Rito
Te Rito
OneRoof PropertyCommercial Property
Open JusticeVideoPodcastsTechnologyWorldOpinion
SpyTVMoviesBooksMusicCultureSideswipeCompetitions
Fashion & BeautyFood & DrinkRoyalsRelationshipsWellbeingPets & AnimalsVivaCanvasEat WellCompetitionsRestaurants & Menus
New Zealand TravelAustralia TravelInternational Travel
Our Green FutureRuralOneRoof Property
Career AdviceCorporate News
Driven MotoringPhotos
SudokuCodecrackerCrosswordsWordsearchDaily quizzes
Classifieds
KaitaiaWhangareiDargavilleAucklandThamesTaurangaHamiltonWhakataneRotoruaTokoroaTe KuitiTaumarunuiTaupoGisborneNew PlymouthNapierHastingsDannevirkeWhanganuiPalmerston NorthLevinParaparaumuMastertonWellingtonMotuekaNelsonBlenheimWestportReeftonKaikouraGreymouthHokitikaChristchurchAshburtonTimaruWanakaOamaruQueenstownDunedinGoreInvercargill
NZ HeraldThe Northern AdvocateThe Northland AgeThe AucklanderWaikato HeraldBay Of Plenty TimesRotorua Daily PostHawke's Bay TodayWhanganui ChronicleThe Stratford PressManawatu GuardianKapiti NewsHorowhenua ChronicleTe Awamutu CourierVivaEat WellOneRoofDriven MotoringThe CountryPhoto SalesNZ Herald InsightsWatchMeGrabOneiHeart RadioRestaurant Hub

Advertisement

Advertise with NZME.
Business

Affordable housing scheme launched

17 Dec, 2015 04:00 PM2 minutes to read
Thirty per cent of the properties at the Hobsonville Point project will sell for $550,000 or below.

Thirty per cent of the properties at the Hobsonville Point project will sell for $550,000 or below.

Anne Gibson
By
Anne Gibson

Property Editor

VIEW PROFILE

Two hundred new residences are planned for Hobsonville Point, half of which will be priced under Auckland's median house price and 30 per cent selling for $550,000 or below.

The new affordable housing scheme was announced today by NZ Super Fund chief investment officer Matt Whineray, Ngai Tahu Property's incoming chief executive David Kennedy and New Ground Capital's Roy Thompson. The places are to be finished by late 2018.

The investors are buying 1.95ha of ex-defence force land from the Government-owned Hobsonville Land Company, a Housing New Zealand subsidiary. The fund and the iwi will each put in 48 per cent and New Ground the remaining 4 per cent.

Three-quarters of the homes will be sold as they are developed but the remaining quarter will be rented out long-term.

Advertisement

Advertise with NZME.

Kennedy said the company saw the project as a perfect entry into the Auckland market, and an opportunity to develop a strong partnership with the Super Fund.

Hobsonville Point had proved to be a successful master planned development, he said.

Whinerary said the project was the first with Ngai Tahu but the two had compatible values.

Ngai Tahu will act as development manager, overseeing construction while New Ground Capital will run the rental component of the project.

Related articles

New Zealand|Politics

Sue Bradford: Hashtags and selfies no substitute for child poverty action

17 Dec 01:46 AM
New Zealand|Politics

Dr Russell Wills: Child poverty recommendations need to be acted on

17 Dec 01:00 AM
Business

Auckland's new zoning maps released

17 Dec 03:44 AM
Business

Start-up businesses given new leases

18 Dec 09:00 PM

Advertisement

Advertise with NZME.

Latest from Business

Premium
BusinessUpdated

What to expect from Chorus' earnings

18 Aug 10:24 PM
Premium
Business

Turkey shocks with unorthodox stab at scorching inflation

18 Aug 09:47 PM
BusinessUpdated

Winton forms new $200m business with Australian lender

18 Aug 09:34 PM
BusinessUpdated

SkyCity refutes Adelaide sale speculation

18 Aug 09:29 PM
Business

Derivatives, better hydro boost Genesis earnings

18 Aug 09:17 PM

Most Popular

Mid-air horror: Panic on Air NZ flight as masks drop, emergency declared
New ZealandUpdated

Mid-air horror: Panic on Air NZ flight as masks drop, emergency declared

18 Aug 10:55 PM
Live: 400+ Nelson homes evacuated; Far North town isolated after slips
New ZealandUpdated

Live: 400+ Nelson homes evacuated; Far North town isolated after slips

18 Aug 10:41 PM
Murder charge after death at property in South Auckland
New Zealand|Crime

Murder charge after death at property in South Auckland

18 Aug 09:43 PM

Advertisement

Advertise with NZME.
About NZMEHelp & SupportContact UsSubscribe to NZ HeraldHouse Rules
Manage Your Print SubscriptionNZ Herald E-EditionAdvertise with NZMEBook Your AdPrivacy Policy
Terms of UseCompetition Terms & ConditionsSubscriptions Terms & Conditions
© Copyright 2022 NZME Publishing Limited
TOP