46 | The Perry Group: Peake Mews DEVELOPMENT Innovative solutions to make housing afforable Under the Secure Home Programme, families purchase the home at its construction cost, while the Bridge Trust retains ownership of the land. T T from page 45 Plans are underway to begin construction in January 2025 on a development comprising 42 one- and two-bedroom apartments. Jennifer says this project represents a significant investment in affordable urban living, with the Brian Perry Charitable Trust donating the land. “It will be around a $10 million gift from Perry’s to kick-start these projects,” she says. “The Perry family is incredibly philanthropic. It’s really inspiring, and they’re always looking to see what more they can do.” Eligibility for the Secure Homes Programme is designed to target those most in need of housing assistance. It is open to first-time homebuyers, with at least one member of the household being a New Zealand resident or citizen. Income restrictions based on household size apply, and applicants must meet specific financial requirements, including bank approval for a home loan. The trust’s commitment to affordable housing also sees it actively working to address the challenges potential buyers face, particularly when it comes to financing. Collaborating with Westpac, the trust has secured a partner willing to provide mortgages for its leasehold model. “We’ve been proactive in raising awareness and educating potential buyers about the leasehold model,” Jennifer explains. “We want to ensure that they understand its benefits and safeguards. The trust is also assisting prospective buyers in exploring various government grants and incentives to further ease the path to homeownership.” Recognising that not everyone can afford the leasehold model due to difficulties in obtaining bank loans, the trust acknowledges the ongoing need for affordable rentals and has plans to also offer this type of housing. Bridge is also exploring how it can offer a shared-equity programme, and hopes other trusts and philanthropists will consider partnering on these new models. As the housing crisis continues to challenge New Zealanders, Jennifer says the trust is demonstrating that with creativity, commitment, and collaboration, affordable-housing solutions are possible. “We’d love to encourage others who have concerns about the broken housing system in New Zealand to see if there are ways we can partner on land or whatever it might be. “There’s so much more we can do together to make homeownership a reality for more New Zealand families.” “It will be around a $10 million gift from Perry’s to kick-start these projects. The Perry family is incredibly philanthropic. It’s really inspiring, and they’re always looking to see what more they can do.” From concept to completion, we meet the individual needs of every client and their construction projects across NZ. www.orbpro.co.nz 021 237 0012 ı WWW.EDACONSULTING.CO.NZ ENGINEERING SUPPORT FOR RESIDENTIAL & COMMERICAL CONSTRUCTION PROJECTS PROUDLY SUPPORTING THE PERRY GROUP. admin@riggallroo ing.co.nz | 027 683 6298 | www.riggallroo ing.co.nz New Long Run Roo ing • NewMetal Tile Roo ing • New Long RunWall Cladding • Long Run Reroo ing
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