May 26, 2017
Ngai Tahu extends Hobsonville footprint
Ngai Tahu Property has picked up one of the last undeveloped sites in Hobsonville Point.
It intends to build more than 200 homes on the 2 hectare West Auckland site, effectively doubling the adjoining Kerepeti project which it is developing as part of a consortium with NZ Super Fund and New Ground Capital.
Ngai Tahu Property is undertaking this second project on its own.
Chief executive David Kennedy says the site has easy access to schools, the ferry, retail and the farmers’ market.
Hobsonville Land Company chief executive Chris Aiken says the crown housing initiative shows developers can combine quality urban design, affordable housing and sound commercial returns.
Ngai Tahu Property also has the green light for a $300 million, 600-home development at Riccarton Racecourse.
Cabinet this week lifted the reserve status of the land allowing an increase in the supply of housing and a financial boost for the racing industry.
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