Three hundred Housing New Zealand properties will be redeveloped into about 1200 new homes in the Auckland suburb of Northcote, the Government has announced.
"The number of HNZ homes will increase from 300 to 400 and a further 600-800 properties will be sold as a mix of affordable and market housing," Bill English, the Minister responsible for Housing New Zealand, said in a statement.
Some of the Northcote Housing New Zealand properties to be redeveloped (Jacob Brown / Newshub.)
An artist's impression of new Housing New Zealand homes (Hobsonville Land Company)
The project is set to cost $750 million. The first homes will be completed in June 2017 and the entire redevelopment is expected to be completed by 2021.
The development is happening mostly on Cadness St, as well as properties on Lake Road and Tonar St.
It's being delivered by the Hobsonville Land Company (HLC) which is a wholly-owned subsidiary of HNZ.
"HLC has proven it has the capacity and expertise to deliver large-scale housing at Hobsonville and has built up trusted commercial partners to deliver good-quality, affordable homes, Building and Housing Minister Nick Smith said in a statement.
An artist's impression of homes on Cadness St (Hobsonville Land Company)
Dr Smith says the redevelopment is the first of a number of large scale HNZ projects now possible under the Unitary Plan.
The first stage is already underway Mr English says. It will replace 20 old HNZ homes with 59 new social housing homes when complete.
The housing areas to be redeveloped (Hobsonville Land Company)
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