Rotorua iwi to build affordable home scheme for whānau, shareholders

The Wharenui Rise development in Owhata will incorporate a mix of affordable and general market homes. Photo / supplied

A subdivision to be built in Rotorua will include homes priced at $500,000 aimed at first-home buyers.

Ngāti Whakaue Tribal Lands (NWTL) has announced the launch of an "exciting" scheme to build affordable homes and address the housing shortage in Rotorua for whānau and shareholders.

General manager of NWTL Ray Morrison said the announcement was the result of a decade-long drive and was only the first step in providing opportunities to support whānau in their homeownership and housing journeys.

"We're making sure we are doing all we can to establish real pathways to homeownership for our people and we're utilising our land to achieve this," he said.

The new Wharenui Rise subdivision in Owhata incorporated a mix of affordable and general market homes.

NWTL will provide eligible first home buyers with an opportunity to purchase one of eight new homes in stage one. Future stages will offer similar proportions of affordable homes as the development progresses.

"Our site is consented for just over 200 homes which are expected to be built over the next few years – starting before Christmas. Long term we are aiming for 13 stages which may provide over 1000 homes in the next two decades.

"The aim is for a consistent flow of housing with construction on the first stage getting under way within the next five months," Morrison said.

The affordable homes would be three-bedroom, one-bathroom, one-carpark, high-quality brick and tile homes, priced at $500,000 (incl GST) to target first-home buyers.

This was more than $100,000 below the median house price in the city.

First preference will be given to Ngāti Whakaue shareholders and whānau, with registrations of interest open from July 12.

"To register, interested parties must meet our key criteria and requirements for eligibility. They need to be able to provide evidence of their shareholding in, or whakapapa to Ngāti Whakaue Tribal Lands. They also need evidence of how they intend to finance their purchase, for example, pre-approval from their bank," says Morrison.

Access to additional Government financial assistance such as the First Home Grant or KiwiSaver drawdowns may be available to first home buyers interested in the development.

Initial applications close at the end of September with a ballot process due to take place on October 1.

Successful applicants from the ballot would be offered an opportunity to purchase a home after October 4.

Those who were not successful would be placed on a waiting list and notified if an opportunity arose for them to purchase one of the affordable homes in the future.

The affordable housing scheme is part of NWTL's wider housing strategy which also aims to support whānau through long-term rental accommodation and kaumātua who may be interested in papakāinga housing options.

"Our Whakatauki is Mana Whenua, Mana Tāngata. We are committed to upholding the honour of both the land and the people," Morrison said.

NWTL will officially announce the affordable housing strategy on July 9 from 3pm to 4.30pm at Te Papaiouru Marae, Ohinemutu, Rotorua.