More housing innovation fund recipients

Two projects will receive $5 million in government funding in the latest round of approvals from the Housing Innovation Fund, Housing Minister Phil Heatley announced today.

Mr Heatley says the projects will provide affordable family home ownership and affordable rental accommodation for older people in Auckland.

The funding will assist the New Zealand Housing Foundation to provide 30 new properties for affordable family home ownership in Auckland and the Salvation Army to provide 15 new rental properties for older people in Mangere, Auckland.

Mr Heatley says providing affordable housing is a priority for the government, but it cannot tackle this issue on its own.

“The aim of the Housing Innovation Fund is to encourage partnerships and innovation within the housing sector. These two projects demonstrate how the interaction between government, institutional investors, developers, and community housing organisations can benefit those in housing need.

The total value of the New Zealand Housing Foundation project is $12 million, with $3 million coming from the Housing Innovation Fund. The Salvation Army project is worth $4.95 million, with $2 million coming from the fund.

The Housing Innovation Fund for 2009/2010 has now supported 10 projects throughout New Zealand for families and individuals in need.

Six community organisations received nearly $6 million funding in the first round of approvals for the 2009/10 year from the Housing Innovation Fund in March. Last month two Habitat for Humanity projects received $650,000 from the fund.

ENDS

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