Affordable housing at Hikuwai
Posted at 6:00am Thursday 24 Sep, 2020 | By Pat Deavoll firstname.lastname@example.org
Queenstown Lakes Community Housing Trust's (QLCHT) assisted ownership model, Secure Home, is coming to Wānaka for the first time – with six houses under construction at Hikuwai.
QLCHT was building two 2-bedroom, three 3-bedroom, and one 4-bedroom houses at the subdivision. Construction was due for completion in April 2021.
QLCHT executive officer Julie Scott said the Trust was planning to allocate four of the properties into its assisted ownership model, Secure Home. Secure Home is a programme where people purchase the properties through a 100-year land lease arrangement, with the Trust retaining ownership of the land in perpetuity.
"We have received a lot of interest from our waiting list for people wanting to purchase one of these homes. It's exciting to be able to offer this programme to the residents of Wānaka for the first time," Scott said.
The remaining two properties will be retained as long-term rentals through the Trust's various rental programmes.
The six sections were transferred to QLCHT by the developer as part of its obligation when the land was rezoned from rural to residential. This process, known as inclusionary zoning, enabled a small portion of the value uplift created through the upzoning of land, to be shared with the community for the purposes of affordable housing.
Hikuwai developer Lee Brown said: "Although our development includes a portion of sections already pitched at the more affordable end of the market, it's rewarding to know we are playing a role in helping a small number of families into their own homes, who would not otherwise be able to access homeownership."
Wanaka-based QLCHT Trustee Phil Smith said Hikuwai was a sought-after subdivision.
"Property sales have remained strong for Wānaka post-COVID-19, and the Hikuwai subdivision provides good value for money. It's in a desirable north-facing location, and just five minutes' drive to the town centre, schools and the shores of Lake Wānaka."
Established to manage and deliver affordable housing solutions to residents who cannot afford it, QLCHT has several programmes in place to help low-moderate income households including public housing, assisted rental, rent-to-buy, and assisted ownership. It has assisted 177 households to date with another 55 expected over the next 12 months. It has 630 households on its waiting list , of which about 120 are Wānaka-based.
Read edition 993 of the Wānaka Sun here.