More Affordable Precinct at Hobsonville Point

AVJennings Begins More Affordable Precinct at Hobsonville Point

Auckland - 8 March, 2017 - AVJennings announced today that it is now underway with the construction on the site of the 12.5 hectare Buckley B Precinct at Hobsonville Point, a project that will see the company deliver 114 of the 383 homes as affordable housing.

Strong demand has meant an acceleration of the development of the Buckley B Precinct with homes that were expected to become available in 2019 now to be delivered from 2017.

Of the projected 4,500 homes at Hobsonville Point, 20 per cent must be Axis Series homes sold in a more affordable price range of $550,000 or below.

At Buckley B, however, AVJennings has committed to delivering 30 per cent of homes as affordable housing.

Adriaan Vlok of AVJennings says: “An affordable component of 30 per cent is common practice among some European developments, and, given the current housing shortage in Auckland, we are pleased to be able to deliver this level of affordable homes from the Buckley B precinct.

“Further, in addition to the 30 per cent of Axis Series homes, AVJennings will deliver 50 per cent or 191 homes between $550,000 and the Auckland metro median house price. This means that 80 percent of all homes within the Buckley B precinct will be delivered at or below the city’s median house price.

“AVJennings manages the delivery of infrastructure as well as houses in partnership with the lead developer of Hobsonville Point, Hobsonville Land Company (HLC). It’s an approach that helps HLC (a subsidiary of Housing New Zealand) deliver vibrant new neighbourhoods and new homes at the rate of more than one a day.

“Features of this approach include a steady supply of land, a planning framework that supports smooth and speedy consenting, an agreed affordable component, quality and sustainability standards for homes and neighbourhoods, and a masterplan that puts a thriving community first and provides high quality amenities.

“At Hobsonville Point, this approach is creating an urban space of exceptional quality. People recognise this and there is high demand for new homes in this community.

“The sustained demand gives builders confidence to buy more land, commit bigger teams and more resource. The pace of delivery can then speed up. A virtuous circle is born. We need more of this long-term, forward-looking approach in Auckland.

AVJennings’ partnership with HLC extends to searching for forward-looking and proactive solutions to affordability. Buckley B will include sites on which innovative construction and building methods can be employed to create ‘test lab’ projects.

Buckley B Precinct will showcase how more affordable homes with particular appeal to first home buyers can be delivered.

“Hobsonville Point is demonstrating how a collaboration between a government-owned lead developer and private developers like ourselves can make a difference in terms of Auckland housing supply and achieving mutually satisfying outcomes,” says Mr Vlok.

Ends

About AVJennings

AVJennings is one of Australia’s most recognised residential property development and home building companies. Founded in the 1930s by Sir Albert Victor Jennings, AVJennings’ vision is to create desirable places to live by providing quality affordable living solutions that respect the environment.

AVJennings was appointed by Hobsonville Land Company to develop Buckley A Precinct at Hobsonville Point in 2008. The success of the Buckley A Precinct contributed to AVJennings being chosen by Hobsonville Land Company as Master Developer for the Catalina Precinct in 2014.

AVJennings is proud to bring its experience to Hobsonville Point to deliver a strong community and to enhance the quality of living via attractive housing based upon principles of enduring quality, value and trust.

For more information, visit www.AVJenningsennings.com.au

About the Buckley B Precinct of Hobsonville Point

The development of Buckley B precinct is the third area of Hobsonville Point to be undertaken by AVJennings. In total there will be over 4,500 homes at Hobsonville Point which will be a mix of standalone and terrace houses and apartments. Twenty percent of all homes at Hobsonville Point will be Axis Series homes.

About Hobsonville Point

Hobsonville Point – home to more than 1500 residents – is part of a master-planned community on 167 hectares of upper Waitemata Harbour coastal land which was formerly the Hobsonville air base. More than 4,500 new homes are planned among amenities like the Hobsonville Point Park and playground, cycleways, walking tracks, the Catalina Café, the Hobsonville Point Farmers Market, a new primary school and a new secondary school. More than 400 homes are being built each year. Twenty percent of these are Axis Series homes, priced at $550,000 or below. To date more than 1,000 homes have been sold, of which 634 have been completed and over 350 are under construction.

www.hobsonvillepoint.co.nz

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