| 31 REGIONAL DEVELOPMENT OWN IT programme opens doors Homes are intentionally designed to be affordable and large enough to support multigenerational living. An innovative shared-equity model has already helped 117 families achieve the dream of homeownership with comprehensive support from application to keys. “For many families in Tāmaki, homeownership has felt like an impossible dream. But the Tāmaki Regeneration Company (TRC) OWN IT programme is transforming lives by providing a pathway to homeownership through an innovative shared-equity model that makes buying a home both achievable and sustainable,” explains Jared Partridge, acting general manager social transformation at TRC. “Through OWN IT, our team walks alongside families every step of the way, from the first application to bank appointments, legal documents, mortgage readiness and finally, allocation and handover.” The programme addresses the real barriers that many whānau face: low incomes, high debt, unaffordable deposits and the prohibitive cost of housing in Auckland. Under the shared-equity model, whānau own 70% of their home from day one, with TRC owning the remaining 30%. Over time, families can buy TRC’s share until the home is 100% theirs. This innovative approach means significantly lower mortgage repayments and deposits as small as 5% of the purchase price. “The programme is a game changer,” explains Jared. “We’re seeing families anchor themselves here in Tāmaki, laying down roots and building vibrant, mixed neighbourhoods where connection, safety and a real sense of belonging can thrive.” To qualify for OWN IT, households must earn between $85,000 and $150,000 annually before tax. For larger whānau living together – families with six or more members or multiple family units – the income threshold extends to $205,000 per year. Applicants must be firsthome buyers and either New Zealand citizens or residents committed to making Tāmaki their home. � Karen Phelps The journey begins with free financial capability workshops - seven comprehensive sessions that help families become mortgage-ready. Jared says these workshops provide crucial skills, including debt management, savings strategies, understanding mortgage applications, and accessing KiwiSaver as a first-home buyer. “It’s normal for whānau to start their OWN IT journey with debt or little to no savings,” he says. “Our financial capability workshops help build their confidence around money management and help them get on top of their finances.” Tāmaki Regeneration Company “Safety & Security combined with lasting good looks” ........................................................................................ 0508 PROVISTA (776 847) m: 027 249 6435 e: roberto@provista.co.nz www.provista.co.nz • Framed Balustrades • Frameless Glass • Frameless Showers • Semi Frameless Glass • Pool Fencing • Euro Slat Screening • Glass Splashbacks • NZ Designed & Made • Safety Glass • Free Measure & Quote Proudly supporting Tamaki Regeneration Company Homes are intentionally designed to be affordable and large enough to support multigenerational living, reflecting local cultural values and practical needs of Tāmaki communities. “Without targeted support, many families would remain stuck in a cycle of dependency, with few options for long-term security or wealth creation,” says Jared. “OWN IT was created to break that cycle.” The impact extends far beyond individual families. The programme improves wellbeing, builds intergenerational wealth and reduces longterm reliance on government support. Since its launch, 117 whānau have been supported into homeownership, with 15% transitioning out of state housing, thereby freeing up homes for those who need them most. “We treat every person who walks through the door with aroha, regardless of background or circumstance,” explains Jared. “The programme is a comprehensive pathway to financial independence that recognises the importance of community, culture and long-term sustainability.”
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