Feedback wanted on housing investment proposal

Tauranga City Council is looking for feedback on their proposal to reinvest funds raised from a recent elder housing portfolio to support local housing needs.

e sale, which is now nearing completion, will see proceeds reinvested into the city for social and a ordable housing.

Commission Chair Anne Tolley says the intention when council rst decided to sell its elder housing portfolio was to use the funds generated to help address local housing needs, and that hasn’t changed.

“We know that access to a ordable homes is an issue for many people and we believe the best use of the elder village sale proceeds is to support better housing outcomes for all.” e council sold seven of its nine elder housing villages to Kāinga Ora – Homes and Communities in 2022. e other two are currently in the process of being sold for private development. While some of the sale proceeds have already been committed to support local community housing providers and Papakāinga housing, the council wants to check in with the community on its proposed plans for the rest. e rst part of the proposal involves investing $10 million in a Housing Equity Fund, alongside Bay Trust and TECT, which are also intending to invest in the fund. e second part of the proposal would see the remaining sale proceeds from the elder housing portfolio also being invested in the Housing Equity Fund and/ or other a ordable housing initiatives. “Housing supply is a priority for council, as is ensuring that a range of options is available to meet community needs for years to come.” Community consultation closes Wednesday, June 21. Visit the Tauranga City Council website to provide feedback, or visit the Housing Equity Fund website for more information.