It’s full steam ahead at Hobsonville Point, a prime piece of Auckland real estate that was used from the late 1920s by the Royal New Zealand Air Force before being transferred by the Crown to Housing New Zealand Corporation.
The Hobsonville Point development is taking place pursuant to a Special Housing Area and is being led by the Hobsonville Land Company, a wholly-owned subsidiary of Housing New Zealand Corporation.
The Hobsonville Point development will be completed in stages and so accordingly, the land has been divided into precincts (see Figure 1). When complete, the entire Hobsonville Point development will be home to approximately 10,000 people in more than 3000 homes of which 20% will be sold for no more than $550,000 (referred to as the ‘Axis Series Homes’) in keeping with the affordable housing objectives for the development. There is no minimum size for an Axis Home. Purchasers of the Axis Series Homes buyers must be New Zealand permanent residents or citizens, have a household income of no higher than $120,000 per annum and live in the house for a minimum of two years. In addition, half of the buyers must be first time home buyers.
The ‘Sunderland Precinct A’ forms part of the Hobsonville development. The Precinct’s developers, Willis Bond, bought the land from the Hobsonville Land Company in 2013. Willis Bond has raised $228 million equity for two development funds that provide it with a large, secure capital base for its development projects. Investors in the funds include the New Zealand Superannuation Fund, the Government Superannuation Authority and the Accident Compensation Commission.
The 211 new homes in the Sunderland Precinct will be a mixture of typologies, namely 40 free standing homes, six apartments and 146 terraced houses of which 30 will be the affordable Axis Series Homes (see Figure 2). In addition, the Precinct will have 17 refurbished heritage houses that were originally built in the 1930s to house the families of Royal New Zealand Air Force officers.
Much careful planning and design has gone into providing community amenities. A new primary school and secondary school have recently been built as part of the larger Hobsonville development. Pocket parks will also be created with shared garden sheds to store communal lawnmowers and garden tools that will be administered by a residents’ group to encourage community connection.
In terms of timing for the Sunderland Precinct, the first of the refurbished heritage homes arrived on the market in June 2015 (see Figure 3) and the other new homes will follow shortly. Expressions of interests have been received from a number of parties who will have the first opportunity to buy the new homes as they become available. Sales are progressing well and as at September 2015 there were 77 sales and 10 conditional contracts and the first release of homes will complete by the end of 2015.
The creation of a precinct within a Special Housing Area and the construction of 211 mixed-typology homes as part of the larger Hobsonville Point development.