Do you remember this item in Nelson Mail just a few months ago - 4 August?
Big celebration for Mayor Reece and Housing Minister Smith thinking they are making a difference. They sure are, and it's not a good difference for people who live in Nelson and just want to find something affordable, secure and somewhere they can call home.
Really BAD news for anyone dreaming for some new opportunities for an affordable home.
"The Ocean Lodge site will be developed by Wakatu Incorporation for an estimated 39 various-sized apartments from studio, one and two bedroom apartments and penthouse options.
The development, which will house 39 apartments ranging from $470,000 to $1.4 million, falls under the Government's Special Housing Area programme."
So just to highlight how this kind of supply helps us.....the 1 bed apartments begin at $470,000.
There is NO requirement in this SHA programme for affordability. So guess what, investor interest is HIGH and will continue to push the current prices in our area UP, UP and UP.
One local resident, "Longman has rented in the area for two years with his wife and six chickens but said the idea to purchase one of the Ocean Lodge lots would not fit with his work/lifestyle choices at the moment." Surprise!
Will this offer some different choices for anyone currently living nearby as a new quality home to live in. UNLIKELY.
Who will benefit from this overall?
1. Developers, who get to fast track a high end penthouse style of accommodation at relatively high prices.
2. Investors who can afford to purchase.
3. Government will get some spin for their own voters, because of all the "employment" for the time they are there, and all the business interests who will get to "click the ticket" and improve their already relatively high incomes.
Nelsonian of the Year 2009
Queen’s Service Medal 2010
Founding Chair of the
Nelson Tasman Housing Trust
Founding & Current Director of Victory Community Centre
(NZ Community of the Year 2010)