Positive Capital helps unlock Auckland social houses

The new two-bedroom homes in Manurewa, which will be used for public housing. (Image: Positive Capital)

Fri, 17 Nov 2023

The first social houses financed under an innovative new model have been completed in Auckland, with tenants due to move in shortly.Using capital from cornerstone investors Alvarium and KiwiSaver provider Pathfinder, the Positive Property Fund took a 50% stake in 21 two-bedroom units in Manurewa, which will be managed by Emerge Aotearoa Housing Trust.The community housing provider (CHP) will co-own the development. It only required a 10% deposit, as it could access affordable finance via Community Finance to cover the remaining 40%.Communi...

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