Recently Julie Scott from the Queenstown Lakes Community Housing Trust got in touch to update us on progress at Tewa Banks (earthworks will continue until April and construction is expected to start in the middle of the year). She let us know that the initial allocations of assisted ownership housing at Tewa Banks will be made in mid 2023, with the household allocation for public housing and affordable rentals later in the year.
The project is due to be completed in December 2025. As with the Suffolk St development, these properties will remain in QLCHT ownership in perpetuity. They will never be sold on the open market.
The trust already has an extensive waiting list, but the good news is it may not be too late to put your name down if you'd like to live at Tewa Banks. The allocation process will begin when an invitation is extended to QLCHT’s entire waiting list to register interest in a particular development. Eligibility is tested and those who meet the financial requirements along with suitability for a particular house (eg house size, etc.) are invited to formally apply.
The final allocation of homes is determined as follows:
- Public Housing (and Senior) – highest need as deemed by QLCHT.
- Affordable Rental (and Senior) – highest need as deemed by QLCHT.
- Rent Saver – length of time on the waiting list.
- Secure Home – length of time on the waiting list.
QLCHT offers a variety of programmes, ensuring that households eligible for housing assistance can access decent, secure and affordable housing that meets their financial needs. Providing housing to committed residents benefits our whole community.
Public Housing Rental
This rental programme is offered under a contract with the Ministry of Housing and Urban Development (HUD). It is for the lowest income households that are also experiencing a serious housing need, with the Government setting the rent at 25% of a household's net income.
The Affordable Rental programme offers low–moderate income households an income-tested rent subsidy of up to 20%. This provides households the opportunity to get on their feet financially through clearing debt and/or setting savings goals.
This programme provides long-term security for those aged 65 or over, using either the Public Housing or Affordable Rental models (above) depending on their individual financial position.
This rent-to-buy programme is designed for households with a moderate income, but need to increase their deposit for a home. Rent Saver has a savings component, whereby QLCHT matches household savings up to $2,600 a year, for five years, which can then be accessed by the household when they go on to purchase the home through QLCHT’s assisted ownership programme.
This assisted ownership model is based on a leasehold tenure, whereby the household essentially purchases the building (based on cost of construction) and is issued a 100-year lease on the land. An annual ground rent is charged on the land, which is set at 1–1.5% of the land value.
All QLCHT’s housing programmes are available to anyone in the Queenstown Lakes District who
- has lived here for at least six months
- is working full time ie 30 hours or more a week (except for Public and Senior Housing)
- has no other property ownership
- is a New Zealand citizen or resident
- meets an income cap criteria of $85,000 p.a. for a one-person household, or $130,000 p.a. for a household with two or more people.
More details can be found on QLCHT's website.
If you’re keen to be considered, please register your interest.
Download the latest Tewa Banks newsletter for more details on progress so far, the construction of the houses and more renders of what the finished product will look like.