Hamilton City Council has accepted a developer’s offer of $5.15 million for a prime Rototuna land to build a minimum of 65 new homes.
The 8470m2 land in the heart of Rototuna, close to Te Kete Aronui Library, local schools, and Korikori Park, is part of a larger block purchased by Council in 2008 for development as a combination of community facilities and residential development.
Following a ‘robust’ tender process, Hamilton City Council has resolved to sell the piece of land known as ‘Area Q’ to Jones Lands Limited, a Hamilton-based developer led by directors Tristan and Reghan Jones.
The successful developer for this prime pocket of land has been chosen for how they will “balance affordability, quality design and price.”
Proceeds from the sale of the land will be used to fund or part-fund future land acquisitions, or used to pay down Council debt.
According to the Council, a variety of homes will be delivered, including one, two, and three-bedroom homes, designed to meet the growing demand for well-designed, compact living options in the area.
The full development, delivered in multiple stages is set to be completed within four years, making a significant contribution to the local housing landscape.
“Purchasing the land early was vital to plan and deliver the community assets Rototuna needed. By offloading the surplus land in Area Q, we’ve been able to recover some costs, and enable a unique development opportunity,” says Councillor Ewan Wilson, Chair of the Economic Development Committee.
Councillor Anna Casey-Cox, who leads Council’s Affordable Housing Working Group, was impressed by Jones Lands Limited’s solution to the challenge set by Council through the tender process.
“This is Council pioneering a way to enable affordable housing… (and) Jones Lands Limited has come up with an innovative way to deliver…”, Case-Cox said.
The development concept Jones Lands Limited put forward aims to create homes that foster a strong sense of community and ensure homes are affordable for a broad spectrum of buyers, from first-time homeowners to downsizers.
Also Read: https://www.newsviews.co.nz/council-seeks-housing-developers-for-prime-site-in-rototuna-north/
https://www.newsviews.co.nz/council-seeks-housing-developers-for-prime-site-in-rototuna-north/
