Kāinga Ora and property developer Winton partner for Lakeside development
12 June 2020
Kāinga Ora – Homes and Communities, and property developer Winton have entered into a Land Supply partnership agreement to deliver more than 1300 homes over a 7-8-year period at Lakeside, in Te Kauwhata, Waikato.
This multi-million-dollar investment is an exciting and unique opportunity to deliver high-quality affordable homes utilising Winton’s expertise and resources at pace, and establish a vibrant community in an area of known high demand.
The agreement is consistent with Kāinga Ora’s key objective to drive urban development in areas of growth, and work in partnership to deliver the best housing outcomes.
Kāinga Ora Deputy Chief Executive of Urban Development Delivery, Caroline McDowall, says the Lakeside development presents an opportunity to build on Winton’s vision for a well-thought out, master-planned community with housing choices for a wide range of people and families, including more affordable housing. The development will deliver homes consistent with affordable price points and master-planned community outcomes in the development, starting at $480,000.
“We have a broad and diverse approach to our development objectives, and while much of our development is in existing urban brownfields areas, we also identify greenfields areas to balance this approach,” McDowall says. “Kāinga Ora is an entity with a long-term view – we actively look to where we can deliver homes and communities of the future, and Lakeside reflects that view.”
McDowall also notes that the development is situated in a growth zone, in a strategic Southern Corridor location, and is fully consented, and ready for immediate delivery to the market in 2020.
Winton Chief Executive Chris Meehan says he is delighted with the agreement. “Lakeside has already generated a significant amount of interest and sales, and the agreement with Kāinga Ora enables us to mutually deliver more quality homes at pace for New Zealanders amid the beautiful waterfront landscape of Te Kauwhata.”
“This partnership is an opportunity to advance the Lakeside development at a faster pace, including the proposed school and community amenities, while incorporating the same high standards and approach to master-planning that Kāinga Ora has delivered at Hobsonville Point, making Lakeside the Hobsonville Point of the south,” Meehan says.
“We have worked successfully with Kāinga Ora at Hobsonville Point to develop a range of homes, and look forward to continuing this relationship to enhance the Lakeside community further.”
Meehan says he anticipates this agreement will also generate significant local employment and economic opportunities over several years in the Waikato.
The agreement also incorporates a review of Winton’s existing KiwiBuild underwrites, as indicated in the Government Build Programme reset in September 2019. This includes the acquisition of existing underwritten homes that are complete or currently under construction at Northlake in Wanaka to sell to the market, allowing Winton to continue to deliver builds that meet local market demand.
Work has now resumed at Northlake, Wanaka to complete the homes agreed, and civils and construction work is already underway at Lakeside Te Kauwhata. Kāinga Ora is now seeking to undertake engagement with potential build partners who will construct homes at Lakeside.
Page updated: 12 June 2020