$159 million Build Ready Development pathway fund will prioritise applications from weather affected regions
The second round of applications for the Build Ready Development pathway are now open. Residential developers can check the criteria and priorities, and then apply through the Build Ready Development pathway on Ministry of Housing and Urban Development (HUD) website.
Matt Fraser, Head of Land Acquisition and Development says the Build Ready Development pathway will support developments that might not otherwise proceed, in regional areas of high unmet housing need. “This second round will prioritise applications from regional areas that have been impacted by recent weather events including Te Tai Tokerau, Hawke’s Bay, Tairāwahiti and Bay of Plenty.
“The Build Ready Development pathway provides developers who have eligible, build-ready developments in regional areas of high unmet housing need with two routes to Government support. This can be either by referring requests to sell ‘build-ready’ land to a suitable Government land acquisition programme or by the Government agreeing to prepurchase or underwrite homes off-the-plans, which provides support to unlock third party finance and keep the development moving,” says Matt Fraser.