Housing New Zealand and Waikato-Tainui begin work this month to rejuvenate the old Jebson Place site in Hamilton East into a mix of public and private housing, the first Special Housing Area to go ahead in the city.
The new housing development — recently named Te Kaarearea — will have 80 new homes — 30 state houses and 50 houses that Waikato-Tainui subsidiary company Tainui Developments Ltd will construct and sell to whānau.
Waikato Tainui acquired the two-hectare site from Housing New Zealand as part of the right of first refusal provision in its 1995 Treaty settlement with the Crown.
Waikato Tainui chief executive Donna Flavell said she was excited about the pilot project, as it will provide an opportunity for their people who are first home buyers to establish themselves in an affordable home.
The houses are expected to be priced from $450,000 to $500,000.
"Our housing workshops are among our most popular services that we offer to tribal members and they have provided us with keen insights into housing need, so we know there will be lots of interest in this project," said Ms Flavell.
"It's more than just a house, it's about building the wellbeing of our tribal members consistent with our long-term strategy; Whakatupuranga 2050.
"If our people are to reach their full potential they need to do it in a warm and healthy environment."
Registered tribal members who are first home buyers will have first option to buy one of the 50 homes.
If Waikato Tainui cannot find enough tribal members to participate they will open the opportunity to the wider public.
Housing New Zealand began civil works on the state housing part of the redevelopment and will start construction of the 12 one-bedroom and 18 two-bedroom homes along Dey St in November, with a completion date of mid-2019.
Housing New Zealand general manager asset development Patrick Dougherty said the development will breathe new life into the community.
"Hamilton is in need of more housing and we're excited to begin on this redevelopment.
"We appreciate the patience that the local community has shown us and we look forward to working with Waikato-Tainui to provide a more vibrant and sustainable community," said Mr Dougherty.
Hamilton's mayor Andrew King warmly welcomed the announcement.
"Housing New Zealand and Tainui are to be congratulated on the progress they're making.
"It's essential we collectively continue to make progress on increasing housing supply in our city given the population density and growth pressures we're facing," said mayor King.
Expressions of interest opened this week for iwi members who are interested in this opportunity email us at email@example.com or go to www.facebook.com/WaikatoTainu1/ for more information. No investors or agents.