$20m housing partnership for BNZ and Ngāti Whātua Ōrākei

The iwi – based at Ōrākei marae in Okahu Bay (above) – has assets valued at $1.5 billion. (Image: Ngāti Whātua Ōrākei)

Fri, 12 Jan 2024

Trainee reporter
funded through

A $20 million collaboration between Ngāti Whātua ki Ōrākei and the Bank of New Zealand will result in housing for Māori who belong to the Auckland central iwi.Twenty-four homes are expected to be built this year on Hawaiki St in Ōrākei, close to the iwi's principal marae and in an area of desirable properties – 3 Hawaiki St recently sold for more than $2 million.BNZ's $20m "social loan" was certified by EY NZ.Under the model, members of Ngāti Whātua ki Ōrākei who meet the bank's standard home-lending criteria ca...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

NZ sharemarket up 0.4% after Potentia sells Vista stake

The S&P/NZX 50 Index closed at 13,133.2, up 58.38 points or 0.45%.

Graham Skellern 6:05pm

Primary Sector

a2 Milk share price looks high as Forsyth Barr downgrades

It's share price is up over 60%.

Riley Kennedy 2:40pm

a2 Milk share price looks high as Forsyth Barr downgrades

Retail

Not just Auckland: Ikea eyes online sales at 25-35%

The Swedish furniture giant stresses that sales will be made online too.

Victoria Young 1:40pm

Not just Auckland: Ikea eyes online sales at 25-35%

Sponsored

Are employers doing enough to prepare workers to retire well?

When one third of the New Zealand workforce is aged 55 or older – are employers doing enough to help them prepare for retirement?

Moneyfit

Sponsored

Bold Steps: reshaping women’s leadership in Aotearoa

Dame Therese Walsh and Dame Joan Withers reflect on the summit’s unlikely beginnings – and how it has evolved into a platform for ambition and impact today.

OnBeingBold