Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Affordable housing option unveiled in Christchurch tender

Affordable housing option unveiled in Christchurch tender

By Pam Graham

Oct. 31 (BusinessDesk) - State-owned Housing New Zealand has unveiled a flagship project for medium-density inner city developments in its $15 billion housing portfolio it says could become a new mixed tenure housing model for New Zealand.

The tender document for 399 Manchester Street in Christchurch on the fringe of the city's earthquake-devastated central business district addresses the need for affordable housing by building 20 to 30 one and two bedroom apartments, a third of which will be owned or leased by Housing New Zealand.

"It is to be a demonstration site - showing innovative planning, technology, building and ongoing management systems that will become the benchmark for developments on Housing New Zealand sites in New Zealand and for developers to showcase globally," the glossy tender document says.

The development is essentially a public-private partnership but at $6 million to $7 million in total value is too small to interest large public-partnership operators looking to partner government in social housing, according to an industry insider.

The project is not using the standard Treasury document for PPPs. The government's housing portfolio is larger than its school portfolio.

The tender invites expressions of interest to design and build the first of a series of high-profile game-changing housing developments.

"This project is Housing New Zealand's first flagship redevelopment project in Christchurch - a demonstration of the innovative rebuild to be applied to this city," the document says.

Expressions of interest are wanted for an equity and development group to design, engineer and redevelop the site.

Two respondents, known as contenders, will be short-listed and Housing New Zealand will contribute a maximum $200,000 plus GST to the cost of developing proposals.

A joint venture, subject to approval by the Housing New Zealand's board, is then envisaged with a success respondent.

Housing New Zealand will purchase, or lease, up to a third of the units as social housing, with a maximum total development cost of $250,000 per unit. It will also make annual service payments for up to 25 years.

The partner will provide equity and will be the primary developer.

The 2000sq m site is adjacent to one of New Zealand's oldest and largest Kauri homes, Holly Lea, which is also known as McLeans Mansion, the document says.

Housing New Zealand own 69,000 properties in New Zealand and Finance Minister Bill English said at the weekend that lessons were being learned from the Christchurch rebuild which could be used elsewhere to develop affordable housing.

"The government owns $15 billion worth of houses, and, in most cities, the best opportunities within the cities is actually on the government-owned Housing Corp land," English said on TVNZ's Q+A.

Housing New Zealand talks of a mixed tenure community development with some units privately owned, some leased and some social housing.

"What’s on offer here is a fresh start with a fresh approach," the Housing New Zealand document says.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news