Ōwhata 2B and 7 Ahuwhenua Trusts are pleased to announce the unconditional purchase of 27 completed homes, and 12 vacant sections for new builds, in Frank Street, Koutu, Rotorua.

This acquisition is by the Trusts subsidiary, Kohanga Rakau Housing no 2 LP (“KRHno2 LP”) and will result in 39 new homes once the additional 12 new builds are constructed. The purchase marks a major expansion of the Trusts’ affordable housing portfolio where the need and demand in Rotorua remains high.

This milestone builds on the success of the Ōwhata Kōhanga Rākau housing initiative where the total number of affordable rental homes under the Trusts’ stewardship will grow to 77. It reflects a strong commitment to supporting whānau with safe, warm and well-designed housing rooted in community values and ancestral whenua.

Jason Rogers, Chairman of Ōwhata 2B, 7 Trusts, says, “We’re excited to take the next step in the Trust’s journey and expand its affordable housing offering. It has taken several months to negotiate with the receivers of the Frank Street development and we can now focus on bringing more whānau into safe, warm and new homes. This Frank Street purchase is part of the Trusts strategy to steadily grow its housing portfolio which now stands at 142 homes.”

KRHno2 successfully negotiated the purchase with receivers after the previous developer was unable to complete the development. The purchase secures the development’s future and increases the number of affordable homes that will be made available to the local community.

The initiative is supported by Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development (MHUD) via their Affordable Rental Pathway. In addition, the Trusts via KRHno2 secured funding from the Community Housing Funding Agency (CHFA).

James Palmer, Chief Executive of CHFA, shared, “This Iwi-led initiative responds to a well-recognised affordable housing need in Rotorua. We are proud to play a part in enabling the delivery of 39 homes for local whānau. We acknowledge and commend the leadership of Ōwhata 2B and 7 Ahuwhenua Trusts in establishing KRHno2 LP and the funding from MHUD. We value the opportunity to provide finance for this impactful kaupapa.”

This expansion brings a new opportunity for whānau seeking affordable rental housing within a Iwi-led development. Expressions of interest are now open and more information for those interested in a tenancy can be found here.

At its heart, Kohanga Rakau Housing no 2 LP will continue the Trusts’ mission of providing mixed tenure housing for whānau through operations that are well managed, houses that are well-maintained and the health and well being of whānau is at the centre.

The Trusts are already seeing the benefits of whānau who live in safe, secure and new affordable housing and are pleased to continue this with Frank Street.

Website/More info: https://owhatahousing.co.nz/for-sale/frank-street-koutu/

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