Te Rūnanga o Toa Rangatira CEO Helmut Modlik. Photo / File
Ngāti Toa Rangatira are soon to be proud owners of a 24 apartment property in Titahi Bay, Porirua which is being purchased to provide healthy and affordable housing for iwi members, Te Rūnanga o Toa Rangatira said in a statement.
Rūnanga CEO Helmut Modlik said iwi ownership of the 24 View Road property offers a viable option for iwi members to enter the property market.
“Home ownership in New Zealand’s current property market is a hard task for most New Zealanders. The dream for our iwi is to utilise the assets we have to support our whānau into quality housing with affordable and viable home ownership options,” said Modlik.
The announcement follows the Porirua City Council's agreement to sell the property to the rūnanga at a meeting on Thursday.
“The purchase of the apartments is part of achieving our aspiration to enhance the health and wellbeing of Ngāti Toa Rangatira whānau through providing healthy and affordable housing.”
11 of the 24 apartments have undergone refurbishment following water tightness issues and have code of compliance, with the remaining 13 properties requiring remediation works.
“This means that the land will remain an iwi asset, but individual owners will own their homes and the chattels within them and remain free to make home improvements and build the value of their privately owned asset.”
The rūnanga expects to take ownership of the property on 30 June and aims to pursue other purchases for the benefit of iwi members.
“We are also committed to pursuing the purchase of other properties to secure a sustainable future for more of our people.”