Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Housing Trust to purchase 50 apartments in Frankton

Housing Trust to purchase 50 apartments in Frankton

Affordable housing for 50 Queenstown families has been given the green light, with the local housing trust securing finance to invest in Frankton’s new apartment development.

The Queenstown Lakes Community Housing Trust has confirmed it will purchase 50 apartments within New Ground Capital’s development at Remarkables Park, after obtaining funds from Westpac bank.

The one- and two-bedroom apartments are part of New Ground Capital’s 227-unit development just below the popular Frankton retail precinct. Site works start tomorrow (April 3) and construction is expected to be complete in late 2019.

Earlier this month the Trust was disappointed to lose financing for the transaction from overseas buyers, due to proposed changes to the foreign buyers legislation. However, today’s agreement with Westpac bank signals a positive move, helping the Trust deliver its goals of providing housing for local people who can’t afford it.

“We are delighted to be able to confirm the contract with New Ground Capital today. This is an exciting opportunity to assist another 50 families into secure, affordable housing,” Trust Executive Officer Julie Scott says.

“We now have more than 500 households on our waiting list, and this purchase will go a long way to helping with our goal of assisting 1000 households in the next 10 years.”

Whilst the Trust is not yet in a position to confirm which programmes the properties will be allocated to, Scott says it is likely to be a mixture of affordable rentals and assisted ownership.

New Ground Capital Managing Director Roy Thompson says he’s thrilled with the news: “We are very pleased to be working with Queenstown Lakes Community Housing Trust to help house key workers in our district. We see this relationship as satisfying important social and commercial objectives for our organisation.”

New Ground Capital will be retaining 78 of the properties as long-term rentals.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why France Could Become Our Closest Ally In Europe

As PM Jacinda Ardern returns from a triumphant tour to Britain and the capitals of Europe, her officials have probably begun to assess what the more substantive gains from the trip might have been. Most of the chatter has been about potential trade deals – so lets just assume for the moment that bilateral trade deals between big and small countries are a good thing, despite the perils they pose to the smaller party. Currently, Britain is so involved with its Brexit nightmare that there seems little prospect of any substantive early progress on an FTA with Britain. In any case, New Zealand should be wary of being the first cab off that particular rank. ... More>>


HiveMind: Fair Enough? How Should New Zealanders Be Taxed?

Have Your Say - Scoop and PEP invite you to share your issues, ideas and perspectives on the NZ tax system with other New Zealanders using Scoop’s HiveMind tool. This Tax HiveMind is intended to complement and feed into the review being run by the Government-appointed Tax Working Group (TWG), which is looking at the fairness, balance and structure of the tax system with a 10-year time horizon. More>>


Gordon Campbell: On Thompson + Clark & Russia’s World Cup

Daily, the coalition government keeps running into examples of the toxic legacy left behind by National – and just as regularly, even the simple fixes are proving stubbornly difficult to enact. Take the case of the security firm Thompson + Clark ... More>>


Gordon Campbell: On The GCSB’s Security Hang-Up With Russia

So our GCSB has chimed in, alongside its British, Australian and US allies, with warnings about a “fresh wave” of Russian cyber attacks, although the warning has been curiously framed. More>>


PM's Europe Trip: CHOGM & Bilateral Meetings

Prime Minister Jacinda Ardern is in Europe for the Commonwealth Heads of Government Meeting (CHOGM) in London and meetings with counterparts in Paris and Berlin. More>>


Addressing Climate Change: No New Offshore Exploration Permits

The Coalition Government is taking an important step to address climate change and create a clean, green and sustainable future for New Zealand, Prime Minister Jacinda Ardern announced today. More>>


Road Safety Summit: Actions To Improve Identified

The Local Government Road Safety Summit held last week identified actions that will lead to lasting changes to road safety in New Zealand, says Associate Transport Minister Julie Anne Genter. More>>





Featured InfoPages