NZ Urban Development news from the media | 10 September | Government resets KiwiBuild

Government resets KiwiBuild

The Government is announcing new initiatives to help more New Zealanders into homeownership through its KiwiBuild reset, Housing Minister Megan Woods announced today.

The reset includes:

• New ways for people to become home owners, such as shared-ownership schemes
• Boosting supply by building more homes where evidence shows they are needed
• Letting friends and family join their $10,000 deposit assistance together
• Reducing to 5% the deposit required for a government-backed mortgage
• Reducing the amount developers receive for triggering the government underwrite rather than selling to KiwiBuild buyers

https://www.beehive.govt.nz/release/government-resets-kiwibuild-help-more-new-zealanders-home-ownership

Have Your Say on Auckland’s City Centre Masterplan

Public consultation on the refresh of Auckland’s City Centre Masterplan (CCMP) opens today with proposed changes reflecting the city’s unprecedented growth.

Originally adopted in 2012, Auckland Council’s CCMP sets out a 20-year vision for the heart of the city and provides a blueprint for future development. 

The refresh allows the council to look at opportunities for future growth and enhance the original masterplan.

Mayor Phil Goff says the refresh will build on CCMP work already complete and underway, to develop a more exciting, people-focused and sustainable city centre.

https://www.aucklandcouncil.govt.nz/have-your-say/topics-you-can-have-your-say-on/city-centre-masterplan-refresh/Pages/default.aspx

Wellington terraced housing development, The Paddington, secures land for $25 million

A $130 million terraced housing project in central Wellington, The Paddington, has moved a step forward with the securing of a $25 million large parcel of land.

The site covers 7500 square metres on the corner of Taranaki and Jessie streets and is presently home to a car yard.

Developer Thames Pacific plans to build 152 low-rise freehold terraced houses ranging in price from $788,000 to $1.48m.

Real estate agents Colliers said 90 per cent of the terraced houses had been sold off the plans. Construction of The Paddington was scheduled to start early next year and finish in late 2021, Colliers' agent Sam McIlroy said.

https://www.stuff.co.nz/business/115563835/wellington-terraced-housing-development-the-paddington-secures-land-for-25-million

Stride Property is teaming up with investment giant JP Morgan

One of New Zealand's largest property companies Stride Property is teaming up with international investment giant JP Morgan to create an industrial property company whose value could top $500 million in a few short years.

Stride has launched a joint venture with JP Morgan Asset Management, leading and advising a group of international investors, to own and develop industrial property in New Zealand, mostly in Auckland.

Stride will sell to the joint venture, called Industre Property, 11 industrial properties for $256.9m and Industre will be managed by Stride Investment Management.

https://www.stuff.co.nz/business/115554770/stride-property-is-teaming-up-with-investment-giant-jp-morgan-to-invest-in-millions-of-dollars-of-industrial-property

Ōtāhuhu town centre set for $16m transformation

Work on the major transformation of Ōtāhuhu town centre will start on 16 September. 

Welcoming the news, Māngere-Ōtāhuhu Local Board chair Lemauga Lydia Sosene said it was a long time coming, but the work heralded the start of a new future for the town as a revitalised 21st-century centre.

“It means we’re on the way to making Ōtāhuhu an attractive place to live work and enjoy with high-quality pedestrian environments and landscaping,” she said.

“When finished, the transformation will help establish the town as an attractive place for young people to settle with bright prospects in a well-connected community, scheduled for population growth with corresponding opportunities for housing and employment.”

https://ourauckland.aucklandcouncil.govt.nz/articles/news/2019/09/otahuhu-town-centre-set-for-16m-transformation/