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44 KiwiBuild apartments in new six-storey building in central Wellington

News from NZ Government
The first KiwiBuild homes for central Wellington are on the way following an agreement with The Wellington Company to build a new apartment building in Mount Cook, Housing and Urban Development Minister Phil Twyford has announced.

The Wellington Company, founded by local developer Ian Cassels, will build a new six-storey apartment block in King Street containing 44 two-bedroom KiwiBuild units which will be completed by 2020. They will cost between $450,000 and $500,000.

As part of the same agreement, The Wellington Company will also repurpose a building and laneway on High Street in Lower Hutt. That site will have 20 apartments made up of one one-bedroom, 15 two-bedroom and four three-bedroom homes. They will cost between $390,000 and $500,000.

Phil Twyford said there was a real need for affordable homes in Wellington where house prices had risen more than 10 per cent in the past year; twice the national average. “Rising house prices in Wellington are also pushing rents up.”

Nearly 10,000 people had expressed an interest in KiwiBuild homes in Wellington, he said. “These apartments are all under the $500,000 KiwiBuild cap for Wellington. The Mount Cook block is situated in a highly sought after area between Massey University, Wellington Hospital and the Basin Reserve.

“KiwiBuild is gaining momentum with other big developers in the process of making deals on developments around New Zealand.

“It’s great to see more big names getting on board with KiwiBuild and contracts being finalised,” Phil Twyford said.

7 comments:

  1. Bernard C, 11. December 2018, 7:06

    Its just profiteering renamed. The preferred developers’ 44 x $500,000 apartments are not “affordable” for those who have been without housing .
    The “kiwibuild cap”? What codswhallop! There is a need for housing for those that Housing NZ have failed . But this sort of developer malarky does nothing to address the housing problems.

     
  2. aom, 11. December 2018, 9:52

    Does the Kiwibuild connection mean that the Wellington Company can use the Government’s ability to over-ride the height restrictions of the District Plan?

     
  3. greenwelly, 11. December 2018, 11:58

    A resource consent for the site was issued in 2017 for a “multi-level mixed use building”. A recent application has been made to modify it ( I’m guessing to be all residential) . But the height envelope may have already been approved…

     
  4. Justin Lester, 11. December 2018, 14:43

    Well done and thank you to Phil Twyford for your Kiwibuild investment in Wellington. Brilliant. [via twitter]

     
  5. Concerned Wellingtonian, 11. December 2018, 16:08

    The Mayor’s congrats to the people in Parliament should hopefully boost his selection chances.

     
  6. Citizen Joe, 11. December 2018, 17:21

    Thanking your Labour party colleague is fine Justin, but it is taxpayer money.

     
  7. aom, 11. December 2018, 20:43

    What Mayor Lester didn’t mention via Twitter was that one of the Council’s favoured developers, Ian Cassels of the Wellington Company, shared the Wellington Property Council’s 2018 awards stage with Kevin Lavery, CEO of WCC and Executive Member, and the McGuinness Family which has scored the management and construction deals for the proposed convention centre including a deal so that ratepayers spent $21m to buy the site.