Creative subdivision planned
An innovative subdivision featuring 320 new homes is planned for Halswell.
Designed to cater for a cross-section of the market, the Meadowlands subdivision will include 32 homes priced under $455,000 that will be offered to young, first-home buyers under a shared-ownership model and 39 affordable homes ranging in price from $200,000 to $370,000.
The bulk of the two, three and four-bedroom properties in the master-planned subdivision will be aimed at the mid-market.
Danne Mora Holdings Ltd and the Wayne Francis Charitable Trust, which is dedicated to helping young people to establish lives for themselves, are behind the subdivision, which will be built on 19 hectares of Spreydon Lodge-owned land off Hendersons Rd.
It is being promoted as an exemplar housing project under the Land Use Recovery Plan, which means the city council may fast-track it through the consenting process. If that happens, the first homes could be completed by September next year.
A mix of house types and sizes, ranging from mews cottages and standalone townhouses to apartments and large family villas, will be set within any given street in the subdivision and all homes will be energy-efficient and use lightweight building materials.
The streets will be well-landscaped, low-speed environments that encourage cycling and walking and make community interaction easy.
Simon Mortlock, of Danne Mora Holdings, said most subdivisions were built unit by unit, but at Meadowlands they proposed to develop block-by-block, with groups of 15 to 18 homes developed collectively in phases.
The approach would enable parts of the development, such as landscaping and building, to be bulk contracted, to help keep costs down.
The shared-ownership homes would be targeted at first-home buyers, preferably with young families, on limited incomes and with limited ability to raise a large mortgage.
Under the shared-ownership model they would get a majority share in the property via a mortgage and the rest - typically 15 to 20 per cent - would be provided by the Wayne Francis Charitable Trust in return for an annual supplement linked to the prevailing rate of inflation. The buyer and the trust would share in any capital value uplift of the property.
The arrangement would be flexible in that the buyer could buy out the trust's equity share or the buyer could sell their share to buy into a general market home, leaving the property available for another young family to buy into.
In a report for tomorrow's meeting of the Christchurch City Council's earthquake recovery committee of the whole, senior urban regeneration adviser John Meeker is recommending councillors approve the subdivision.
He said the design philosophy immediately differentiated Meadowlands and the developers were committed to a well-designed, innovative, high-quality development.