Fletcher, iwi gets nod for Massey East housing project
A proposal for nearly 200 homes in Auckland's Massey has been given the Government's stamp of approval.
The Overseas Investment Office has cleared Fletcher Building and Ngati Whatua Orakei to buy 9.2 hectares of Crown land for the development on Moire Rd, Massey East.
The approval was necessary because only about 27.5 per cent of Fletcher Building's shareholders are New Zealand-based.
Previously owned by the Education Ministry, the land is one of a number of sites identified by a government programme to free up Crown land for more housing.
Fletcher and Ngāti Whātua Orakei's subsidiary will buy the land and Fletcher will develop the site.
Originally, the $130m development was meant to begin late last year with the first homes completed by August this year.
Fifty-nine of the 197 dwellings will be priced "affordably".