Simplicity’s build-to-rent programme ramps up with racecourse land purchase
More than 300 affordable build-to-rent homes will be going into Remuera as Simplicity Living expands into the prestige suburb.
The home building company owned by non-profit KiwiSaver provider Simplicity has purchased 1.4 hectares of land from Ellerslie Racecourse for one of its next development projects.
It planned to build 330 new rental homes on the site, which was close to Greenlane train station, a supermarket, shops and offices, and the medical hub around the Mercy Ascot hospital.
Simplicity managing director Sam Stubbs said the development was part of its wider building programme, which also gave KiwiSaver investors the chance to invest in New Zealand infrastructure.