Monday, 21 December, 2020 - 14:11
Wakatipu’s affordable housing stocks are set for a boost, with Councillors approving a key land transfer at December’s Full Council meeting.
At least 68 affordable housing properties will be built on 3.68 hectares of former Council-owned land in Jopp Street, Arrowtown. The land was initially resolved for transfer to the Queenstown Lakes Community Housing Trust (the Trust) for $1 in April 2019.
At the same December meeting, Council also agreed to extend its role as Guarantor for the Trust for an amount of $2M to secure the extension of their loan from Central Lakes Trust to support their Shotover Country Rental properties. The extension period is for a further five years.