Social housing project under way in Hornby
A step-up to help low-income prospective home owners will be part of a new social housing development in Hornby.
The $12 million project in Gouldings Ave will have 44 new dwellings - almost a quarter of them houses available for first home-buyers in a shared-ownership model.
The project is a "collaborative partnership" between the Government, Christchurch City Council, New Zealand Housing Foundation, Salvation Army, Abbeyfield Partnerships and the Housing Plus Charitable Trust.
The council sold the land to the project last year, at a figure under its own valuation, voting not to build social housing there itself.
The New Zealand Housing Foundation is leading the project and it will offer 10 houses under its affordable mortgage scheme.
The foundation's mission is "to relieve poverty by providing or assisting the provision of affordable housing for low-income persons and households in New Zealand".
Foundation project manager Bill King said the trust would offer the dwellings to first-home buyers who were able to meet 75 per cent of the cost of the house through a mortgage and their own minimum $10,000 deposit.
The foundation owns the other 25 per cent, which reduces the size of the mortgage needed.
If in future it goes on the market, the trust has first option on the house at market value.
He said the other units in the project, which has received $2.4m of Government support, would be rental units owned by Abbeyfield - which runs elderly accommodation, the Salvation Army and the Housing Plus Charitable Trust.
Work on the access road, which comes off Shands Rd, has started, with completion of the project expected in 2015.
Housing Minister Dr Nick Smith unveiled the plans with Christchurch Mayor Lianne Dalziel
"The project aims to develop an integrated neighbourhood of warm, dry and safe low-cost rental and assisted home ownership opportunities for low-income families and elderly Cantabrians, " Smith said.
It was "exactly the type of social housing development we want to see more of under our recently passed legislative reforms to grow the community social housing sector."
Dalziel said housing was one of the council's top priorities and the Hornby development a vital step in Christchurch's recovery.
"Partnerships such as this between local and central government will ensure Christchurch's myriad of housing needs can be met, " she said.
- © Fairfax NZ News
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