31 Jul 2013

Hapu plans major Auckland housing development

11:18 am on 31 July 2013

Auckland's biggest hapu, Ngati Whatua o Orakei, has announced a $24 million housing development, to help its young whanau buy their own homes.

The hapu plans to underwrite mortgages for about 70 new homes to be built in Orakei from the end of the year on Kupe Street.

The hapu's commercial arm, Whai Rawa, is working with banks to develop financing arrangements.

It says mortgage repayments for a three bedroom whare will be about $425 a week, with a low deposit.

Whai Rawa board member Ngarimu Blair says it has already had 200 expressions of interest.

He says further planning with the hapu is needed before it can apply for resource consent.