Stage one of a new Rotorua subdivision has been certified with 52 new homes set to enter the Rotorua housing market.
Wharenui Rise landowner Ngāti Whakaue Tribal Lands recently attained subdivision completion certification from Rotorua Lakes Council for the first stage of its new development.
The council said today this was the first of three stages that were currently consented with civil works starting earlier this month on the second stage of 84 lots, expected to be issued at the end of 2022.
Ngāti Whakaue Tribal Lands General Manager Ray Morrison said the development would provide a consistent flow of homes to the Rotorua housing market for years to come.
"We are really proud that through this development more locals will have access to homes but what often gets missed is the long tail of economic benefit that comes with housing growth.
"We are seeing new housing companies arriving or returning to Rotorua, and those companies need new employees to staff offices and show homes," Morrison said.
"There is a whole industry of people that will benefit from these types of developments. You've got engineers, civil works, builders, plumbers, painters, real estate agents and even the shops where these workers buy their smoko. The economic impact on local supply chains is substantial."
Earlier this year Ngāti Whakaue Tribal Lands announced the development would include a portion of homes targeted at first home buyers.
Each stage will have a percentage of homes that are of the same quality and specifications as per the covenants and design guidelines for the development but would be slightly smaller to keep costs in line with affordable homes in the market.
Shareholders or people who whakapapa to Ngāti Whakaue have been given first preference to register their interest in the homes, and Morrison said they'd had a positive response so far with the ballot process closing in mid-October.
"Long term, this development could produce 1000 lots and if a portion of those have helped local whānau onto the housing ladder, and provides an asset for life, then that is an achievement that will have a ripple effect in terms of benefits across the wider community," he said.
The council's district development deputy chief executive Jean-Paul Gaston said they were starting to see the beginning of a strong development pathway to support growth and the council was committed to helping to deliver the 6000 homes required by 2031.
"Last year the Government, through the Crown Infrastructure Partner fund, provided $55 million to support new housing growth in Eastside.
"That has resulted in council and Waka Kotahi being able to commit to transport network and stormwater upgrades that will support more housing but will also benefit the wider community."
• 52 lots in Stage One.
• 84 lots in Stage Two.
• 76 lots in Stage Three
• A portion of the homes will be targeted to first home buyers at a cost which is competitive with the current median house price in Rotorua.
• Potential for up to 1000 new lots to be developed.