Housing Minister Phil Heatley has today opened four new four-bedroom townhouses built by the Wellington Housing Trust to provide affordable housing in Newtown, Wellington.
The Trust received Housing Innovation Funding (HIF) of $1 million to help with the cost of the build which cost of 1.79 million
"I am always delighted to see Government funding being used to grow social and affordable housing by a provider like the Wellington Housing Trust," says Minister Heatley.
The Trust now owns 26 properties which it rents to families and others in housing need at around 70 percent of market rates.
"I want the Government’s new Social Housing Unit to build on the success of the Housing Innovation Fund, and deliver even better housing outcomes from every Government dollar invested in social and affordable housing," Minister Heatley says.
The Unit administers the new Social Housing Fund, which replaced the old HIF fund of $20 million, doubling it to $40 million in 2011/12. The Fund will be used to support a range of niche, growth, rural and Maori housing providers to expand their portfolios, and maximise the number of people housed for each dollar invested by Government.
The Unit is also working with Housing New Zealand to identify surplus land or housing stock that third sector providers could use to increase the total amount of social and affordable housing available.