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Churches are worth billions and are stepping up to help solve the housing crisis

Churches are worth billions and are stepping up to help solve the housing crisis
stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.

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KiwiSaver money being used to develop affordable housing

The KiwiSaver providers have joined what’s dubbed The Aotearoa Pledge, which aims to fund the building of affordable owner-occupied housing, as well as social rental housing, and shared equity schemes with community housing providers.
Shared equity schemes allow people who cannot save a deposit, but can fund a mortgage, to progressively buy out an investment partner, which at the start of the deal owns a portion of the equity in a home.
Supplied
The Salvation Army s new community housing development in Westgate, west Auckland.
The scheme was the brainchild of James Palmer, the chief executive of the $230m Christian Savings scheme. ....

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