Government promises $40 million to underwrite delayed Wellington development
The Government has promised to underwrite a Wellington apartment block to save the development which has seen delay after delay.
The Monark Development, originally due to be completed in July this year, has been delayed to June 2022, after contractors Arrow went into receivership, and then again due to the affect of coronavirus.
It has left the new owners of the 93 apartments, including 44 who bought through the Government's KiwiBuild scheme, hanging.
The new deadline is only a month ahead of the sunset clause, which would enable either the developer, the Wellington Company, or any of the buyers to pull out.
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Kāinga Ora and property developer Winton partner for Lakeside development
Kāinga Ora – Homes and Communities, and property developer Winton have entered into a Land Supply partnership agreement to deliver more than 1300 homes over a 7-8-year period at Lakeside, in Te Kauwhata, Waikato.
This multi-million-dollar investment is an exciting and unique opportunity to deliver high-quality affordable homes utilising Winton’s expertise and resources at pace, and establish a vibrant community in an area of known high demand.
The agreement is consistent with Kāinga Ora’s key objective to drive urban development in areas of growth, and work in partnership to deliver the best housing outcomes.
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Smart public housing apartments for East Auckland
A happy coincidence saw the start of Alert Level 1 coincide with the opening of modern, well-designed homes.
Galway Street in Onehunga was officially opened by Minister of Housing Dr Megan Woods on Tuesday 9 June.
Members of Ngāti Whātua and Te Ākitai Waiohua welcomed Minister Woods, MP for Tāmaki Makaurau Peeni Henare, Labour list MP for Maungakiekie Priyanca Radhakrishnan and Green Party co-leader and housing spokesperson Marama Davidson onto the site.
The development replaced 34 terrace houses with 71 new warm and dry apartments. Tenants of the one-and-two-bedroom homes will likely include older people, those with mobility issues, small families and individuals.
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Auckland monthly housing update, June 2020
June highlights:
- 894 dwellings were consented in April 2020.
- In the year ending April 2020, 14,783 dwellings were consented in the region.
- 51 per cent of new dwellings consented in April 2020 were houses, 15 per cent were apartments and 34 per cent were townhouses, flats, units, retirement village units, or other types of attached dwellings.
- 24 dwellings were consented on Kāinga Ora or Tāmaki Regeneration Company owned land in April 2020.
- 821 dwellings consented in April 2020 were inside the RUB. Over the past 12 months, 94 per cent of new dwellings consented were inside the RUB.
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