Build Ready Development Pathway
Tender ID: 528683
Tender Details
Tender Description
The Build Ready Development pathway, under the Affordable Housing Fund, helps secure affordable residential developments that may not proceed without Government support. Applications from residential developers for underwrites and pre-purchases close next Friday 16 June (at 4pm). Build Ready Development is open for residential developments that have already achieved resource consent (but haven’t started above the ground construction) and progress has stalled due to the changing market conditions.
The pathway is prioritising developments in regional New Zealand that have been affected by recent severe weather events, and is also assessing eligible applications for developments in other regional locations. (The three main urban centres are not currently being prioritised for assessment.)
The link provides all the information on criteria, prioritisation for assessment, what’s needed to apply, and the link to the application form.
Build Ready Development Pathway - Te Tūāpapa Kura Kāinga - Ministry of Housing and Urban Development (hud.govt.nz)
Criteria
Developers applying for prepurchase commitments or underwrite agreements must:
- already have resource consent for the development
- own the land or have an unconditional agreement to own the land for the development
- be ready to start construction with 6-12 months but not have commenced construction already
- have a valid reason that the development has stalled
- be building affordable homes in the development (telling us how many homes are either at, under or over the relevant KiwiBuild price caps for the region)
- be an experienced developer with a track record of success in building new housing in Aotearoa New Zealand
- provide transparent and detailed financial feasibility information
- provide evidence of third-party finance arrangements such as written indication from their bank or lender on the requirements to unlock development finance
- must be developing more than six homes (net).
All enquiries to brd@hud.govt.nz
Location
