A $58 million deal between the Crown and an iwi housing provider is promising to deliver a minimum of 170 affordable rental homes across Taranaki, Tokoroa, Blenheim, Thames and Tāmaki Makaurau.
Photo: 123RF
The partnership between Ka Uruora - a collective iwi consortium focused on housing and financial well-being - the Ministry of Housing and Urban Development and Te Puni Kōkiri was announced in New Plymouth this morning.
As well as delivering affordable rentals the partnership the deal will have a focus on progressive home ownership schemes and financial education.
Ka Uruorato chair Jamie Tuuta said the deal would enable whānau to move up the housing continuum and achieve greater housing and financial independence.
"We have developed a long-term co-investment partnership model with iwi designed to support our whānau move up the housing continuum and achieve greater housing and financial independence.
"This funding will continuously be reinvested together with iwi capital to support intergenerational wealth for whānau.
"Working with iwi we are also able to leverage existing iwi land to deliver affordable and safe homes where and when they are needed for our whānau."
The agreement allows Ka Uruora to partner with the Government in a new Programme Delivery Partnership Agreement (PDPA) to deliver regional projects based on three key areas.
A) Regional/Impact projects - delivering affordable rentals on iwi owned land.
B) Urban/Scale projects - delivering mixed tenure projects across locations including Taranaki, Tokoroa, Blenheim, Thames and Tāmaki Makaurau.
And C) Progressive Home Ownership projects - infrastructure only investment to support the development of houses to assist whānau into home ownership.
The funding - which will be delivered alongside iwi capital - forms part of the $730 million Whai Kāinga Whai Oranga Māori Housing budget to improve housing outcomes for Māori.
File image: Te Kotahitanga o Te Atiawa chair Liana Poutu Photo: RNZ / Robin Martin
Te Kotahitanga o Te Atiawa chair Liana Poutu said the model could become a blueprint for future investment in Māori housing investment.
"We know where the needs are greatest within our rohe and working with Ka Uruora we can streamline the process for whānau to get them into warm dry homes sooner rather than later."
Ka Uruora Whānau Engagement Manager Te Waka McLeod said the funding would give a huge boost to supporting whānau on a pathway into home ownership.
"Owning your own whare is an aspiration for many Māori but most simply cannot afford a conventional deposit and mortgage repayments in the current market.
Working together with Ka Uruora and Iwi we can offer alternative paths to owning a home and achieving greater financial independence.
"Our financial education and savings programmes are great tools to help whānau realise their goals for a secure and healthy future."