Just got this in my inbox today.....
Is this the first of many such developments to come?
Kiwi Property must also be confident they'll get resource consent for the first 245 unit tower at LynnMall (again there's room for up to 600 units here). So all up 1800 units.
regards,
Donna
Kia ora Donna,
Today, Kiwi Property announced its plans to build Aotearoa’s first large-scale build-to-rent development - a 295-unit complex at Sylvia Park, Auckland.
Specifically designed for long-term tenancy, BTR is set to change what it means to rent here in New Zealand – offering residents the flexibility and convenience of renting, coupled with the security of tenure usually associated with home ownership.
With the median house price in Auckland now around $1.2million, BTR has the potential to help ease the housing crisis, with the site in Sylvia Park able to accommodate around 600 apartments.
For more information please refer to the media release attached /below, along with a video that can be downloaded here. A selection of images is also available here.
If you would like any further information, or would like to speak with Clive MacKenzie, Kiwi Property Chief Executive, for an interview later this week please let me know.
Kiwi Property delivers new way of living, with New Zealand’s first major build-to-rent housing development
September 2021 | In a move that will offer a new way of living and help ease New Zealand’s housing shortage, Kiwi Property today announced plans to build the country’s first large-scale build-to-rent development.
Located at Sylvia Park, Auckland, the 295-unit apartment complex is set to change what it means to rent in New Zealand. Construction of the $221 million development is scheduled to begin later this year, offering a mix of studio, one, two and three-bedroom apartments that are built for sustainable living.
Build-to-rent properties are owned and managed by an institutional landlord – Kiwi Property in this case – and are specifically designed for long term tenancy. The model offers residents the flexibility and convenience of renting, coupled with the security of tenure usually associated with home ownership.
This means that in addition to a raft of facilities and services such as a private gym, co-working spaces, rooftop terrace and on-site maintenance, residents are welcome to have pets, hang pictures, or add their own personal touch to the colour scheme.
Kiwi Property chief executive, Clive Mackenzie, says build-to-rent also has the potential to help alleviate New Zealand’s significant housing shortfall.
“It’s never been tougher or more expensive for Kiwis to get on the property ladder. The median Auckland price is now around $1.2 million and as a result, it now takes the average first home buyer 14 years to save a house deposit.
“Today, more than half of Aucklanders over the age of 15 are living in rental accommodation. Our aim is to make that experience as good as, if not better, than owning your own home. Kiwi Property’s build-to-rent developments will feature quality amenities, a range of resident services and specially curated events, all designed to promote a vibrant community. We’re creating a new way of living that’s custom designed for the modern Kiwi lifestyle.”
Today’s announcement signals the start of an exciting build-to-rent journey for Kiwi Property, with additional developments expected to follow over time. Approximately 1,200 apartments could potentially be built across Sylvia Park in the medium term, transforming the location into a major residential hub. Resource consent is also being sought for a 245-unit build-to-rent tower at Auckland’s LynnMall, with the potential for the site to one day accommodate more than 600 apartments.
“This is a pivotal moment in Kiwi Property’s history, as we take a major step forward in the delivery of our mixed-use strategy. Build-to-rent is set to become a significant part of our portfolio, helping to diversify our asset base and unlock growth. Today’s announcement signals an important strategic shift for the company and demonstrates our commitment to delivery, for our shareholders, our community and the residents who will soon call Sylvia Park home,” Mackenzie says.
--ENDS--
Today, Kiwi Property announced its plans to build Aotearoa’s first large-scale build-to-rent development - a 295-unit complex at Sylvia Park, Auckland.
Specifically designed for long-term tenancy, BTR is set to change what it means to rent here in New Zealand – offering residents the flexibility and convenience of renting, coupled with the security of tenure usually associated with home ownership.
With the median house price in Auckland now around $1.2million, BTR has the potential to help ease the housing crisis, with the site in Sylvia Park able to accommodate around 600 apartments.
For more information please refer to the media release attached /below, along with a video that can be downloaded here. A selection of images is also available here.
If you would like any further information, or would like to speak with Clive MacKenzie, Kiwi Property Chief Executive, for an interview later this week please let me know.
Kiwi Property delivers new way of living, with New Zealand’s first major build-to-rent housing development
September 2021 | In a move that will offer a new way of living and help ease New Zealand’s housing shortage, Kiwi Property today announced plans to build the country’s first large-scale build-to-rent development.
Located at Sylvia Park, Auckland, the 295-unit apartment complex is set to change what it means to rent in New Zealand. Construction of the $221 million development is scheduled to begin later this year, offering a mix of studio, one, two and three-bedroom apartments that are built for sustainable living.
Build-to-rent properties are owned and managed by an institutional landlord – Kiwi Property in this case – and are specifically designed for long term tenancy. The model offers residents the flexibility and convenience of renting, coupled with the security of tenure usually associated with home ownership.
This means that in addition to a raft of facilities and services such as a private gym, co-working spaces, rooftop terrace and on-site maintenance, residents are welcome to have pets, hang pictures, or add their own personal touch to the colour scheme.
Kiwi Property chief executive, Clive Mackenzie, says build-to-rent also has the potential to help alleviate New Zealand’s significant housing shortfall.
“It’s never been tougher or more expensive for Kiwis to get on the property ladder. The median Auckland price is now around $1.2 million and as a result, it now takes the average first home buyer 14 years to save a house deposit.
“Today, more than half of Aucklanders over the age of 15 are living in rental accommodation. Our aim is to make that experience as good as, if not better, than owning your own home. Kiwi Property’s build-to-rent developments will feature quality amenities, a range of resident services and specially curated events, all designed to promote a vibrant community. We’re creating a new way of living that’s custom designed for the modern Kiwi lifestyle.”
Today’s announcement signals the start of an exciting build-to-rent journey for Kiwi Property, with additional developments expected to follow over time. Approximately 1,200 apartments could potentially be built across Sylvia Park in the medium term, transforming the location into a major residential hub. Resource consent is also being sought for a 245-unit build-to-rent tower at Auckland’s LynnMall, with the potential for the site to one day accommodate more than 600 apartments.
“This is a pivotal moment in Kiwi Property’s history, as we take a major step forward in the delivery of our mixed-use strategy. Build-to-rent is set to become a significant part of our portfolio, helping to diversify our asset base and unlock growth. Today’s announcement signals an important strategic shift for the company and demonstrates our commitment to delivery, for our shareholders, our community and the residents who will soon call Sylvia Park home,” Mackenzie says.
--ENDS--
Kiwi Property must also be confident they'll get resource consent for the first 245 unit tower at LynnMall (again there's room for up to 600 units here). So all up 1800 units.
regards,
Donna
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