KiwiBuild: Opportunity for developers launched
23 May 2018
NZ Government:
Tender documents for the KiwiBuild ‘Buying off
the Plans’ initiative – whereby the Government will underwrite or
purchase new homes the private sector and others are developing – have
been released today, Housing and Urban Development Minister Phil Twyford
says.
“This initiative will help us develop more affordable homes for New
Zealanders, sooner.
“There’s an obvious need for us to take urgent action to address the
national housing crisis which is what this initiative is designed to do.
It will operate alongside our work to fundamentally shift the housing
market and help restore the Kiwi dream of home ownership by expanding
the supply of affordable homes.
“We know that a common challenge faced by developers is the need to sell
a significant proportion of dwellings off the plans in order to secure
funding for construction, which means that developments can sometimes
stall or be put on hold.
“The Buying off the Plans initiative is a unique opportunity for
developers to partner with the Government to increase the supply of
affordable housing. We’re essentially giving developers the certainty
and backing they need to deliver suitable developments that would not
otherwise proceed. It will also enable other developments to be finished
at a faster pace than initially planned, in exchange for accelerating a
greater number of affordable, KiwiBuild dwellings.
“Our intention is to have a number of these developments under contract
in the second half of this year, which I’m confident we will be able to
achieve given the positive response to our initial market sounding,”
Phil Twyford says.
The Buying off the Plans initiative is specifically seeking proposals
that either promise volume or innovation, for developments in
Auckland,
Wellington, Hamilton, Napier-Hastings, Queenstown-Lakes District,
Tauranga, Whangarei District and Nelson-Tasman. Proposals for other
areas will also be considered. For this initial approach to market,
priority will be given to developments that are able to commence within
the 2018/19 and 2019/20 years. The opportunity will be re-opened later
in 2018 for years 2020/21 onwards.
“This focus on innovation, alongside our focus on procuring at scale,
recognises the kind of step-change we want to achieve with KiwiBuild. We
need to think differently, and do things differently, to meet our target
of building 100,000 homes over the next decade.
“Collaboration between the Government and developers is essential. I
encourage developers to check out the Invitation to Participate on the
Government Electronic Tenders Service website,” Phil Twyford says.
--ENDS--
Source: New Zealand Government - www.beehive.govt.nz
Contact: N/A
External Links: www.kiwibuild.govt.nz
Recent news by: NZ Government