40 | The Perry Group: Bridge Housing Trust T T Karen Phelps Bringing home ownership within reach The Peake Mews development offers a mix of two-bedroom and four-bedroom homes under leasehold, shared-equity and freehold models. “Owning a home is becoming more out of reach for young whānau. Our focus is affordable housing to meet the real need in this area.” REGIONAL DEVELOPMENT Bridge Housing Trust has unveiled its First Home Partner Programme, a shared-equity initiative designed to help families overcome the increasingly challenging barriers to home ownership, as the organisation continues expanding its affordable housing developments across the Waikato region. The new programme, launched in late 2024, allows families to purchase homes at 80% of their full value, with Bridge Housing Trust retaining the remaining 20% share. Buyers gradually purchase the trust’s share over time, with the goal of achieving full ownership within five to 10 years. “Owning a home is becoming more out of reach for young whānau. Our focus is affordable housing to meet the real need in this area,” says Jennifer Palmer, general manager of Bridge Housing Trust. She says the First Home Partner Programme addresses a critical gap in the housing market, targeting families struggling to secure traditional mortgages, despite having steady incomes. By reducing the initial purchase price, the programme makes homeownership accessible to more New Zealand families, providing a pathway to full ownership. Meanwhile, the trust’s flagship development, Peake Mews in Cambridge, continues to demonstrate strong demand for affordable housing solutions. Following the rapid sell-out of stage 1’s eight homes, stage 2 has just been completed, with only three properties remaining for sale before the development rolls into its next phase. The development offers a mix of two-bedroom and four-bedroom homes under leasehold, shared-equity and freehold models. Under the secure home model, families purchase homes at construction cost, while the trust retains land ownership. Homeowners obtain 100-year leases with annual fees that increase only in line with the Consumer Price Index, significantly reducing long-term housing costs. “The goal is to make mortgage repayments, rates, insurance and the ground lease more affordable than rental equivalents in the same market,” explains Jennifer. The trust has also successfully partnered with Da-Silva Builders in Te Awamutu, securing 20 units from a 36-terraced-house development on Ohaupo Road. All properties have been sold under the leasehold programme, demonstrating the strong appetite for affordable housing alternatives, says Jennifer. Perhaps the most ambitious project currently underway is Hinemoa Apartments in Hamilton’s CBD. Construction began in June on the 42-unit development comprising one- and two-bedroom apartments across two buildings. Each apartment features modern design, high specifications and private balconies, bringing together contemporary design with affordability in a connected urban environment. The project has been made possible through significant philanthropy, with the Brian Perry Charitable Trust donating the land. “It will be around a $10 million gift from Perrys to kick start these projects,” says Jennifer. “The Perry family is incredibly philanthropic. It’s really inspiring, and they’re always looking to see what more they can do.” Pre-sales for Hinemoa Apartments will launch shortly, with residents expected to move in during late 2026. Jennifer says the trust has committed to pricing these apartments at no more than five times the mean household income, ensuring they remain accessible to working families. ethosproperty.nz Providing Commercial and Body Corporate Management throughout the region Proudly working with The Bridge Housing Trust Proud to be working with Brian Perry Charitable Trust to deliver quality outcomes orbpro.co.nz Powering Private Networks with Confidence Planning your next residential, commercial, or industrial estate developments? Looking for a simpler, more cost-effective alternative to traditional network distribution solutions & pricings? Talk to us about tailored private network solutions — and unlock a revenue stream you can reinvest into your project or elsewhere. We deliver comprehensive electrical infrastructure solutions for private network developments throughout New Zealand. 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