The Government has launched a new housing fund that will help more Pacific aiga achieve the dream of home ownership.
“The Pacific Building Affordable Homes Fund will help organizations, private developers, Māori/iwi, and NGOs build affordable housing for Pacific families and establish better pathways to home ownership within Pacific communities. It is an important part of our Government’s wider housing strategy to provide more safe, warm, and affordable housing for all New Zealanders,” Minister for Pacific Peoples Aupito William Sio said.
“This will provide direct pathways for many of our Pacific aiga to enter into home ownership by putting Pacific communities at the forefront of the design and development of new, affordable homes.
“As well as ensuring more homes are available for Pacific communities to purchase, the funding also encourages innovative approaches to housing design to meet the needs and aspirations of our aiga, including multigenerational living.
“I’m proud to be part of a Government that continues to support Pacific families to achieve their home ownership goals. Today’s announcement compliments our ongoing work supporting our communities with financial literacy, which has already seen families’ homes saved from mortgagee sales and purchasing of new homes by participants. We are on track to have 3,000 people through the program and more than 100 people moving into their new homes in the first 12 months,” said Aupito William Sio.
The $14.2 million Fund will provide up to 25 percent of costs for those building a minimum of five homes for Pacific aiga, subject to conditions, and will prioritize developments on Pacific owned land and organizations working in partnership with Pacific communities.
Applications for the funding are currently being received by the Ministry for Pacific Peoples and interested parties have until October 19 to submit their applications.
“The Pacific Building Affordable Homes Fund will assist developers and other home builders to better understand the housing needs of our Pacific communities and ensure that viable options are available at an affordable rate,” said Aupito William Sio.
“Improving the housing stock available to Pacific aiga and providing affordable pathways to home ownership will be a game-changer for many of our peoples, ensuring our tamariki and rangatahi have the best start in life.”