Pre-sales for the first of a series of iwi-led residential developments in New Plymouth begin next month.
Te Kotahitanga o Te Atiawa, through its commercial arm, first announced its flagship Pukekura – The Parade project in 2021.
It will see 35 homes built on New Plymouth’s Liardet St on a section of prime real estate known as the ‘dress circle’.
The site is about 450 metres from the central city, and 350m metres from the entrance to popular Pukekura Park.
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Livingstone Building has won the contract to build the houses, with a final completion date of mid-2025 mooted.
The houses will be sold at market prices.
Te Atiawa uri (descendants) can apply for pre-sales for the multimillion-dollar development between April 14 and May 5, before the offer hits the open market.
Other residential developments in the pipeline include Papā Pounamu, which will see a total of eight townhouses built on a currently vacant Barrett St section in Westown by late 2024.
Twenty homes are planned as part of the Tūkāpō development, with a completion date of early 2025.
Tūkāpō is the original name of Tukapa St, in Westown, where the houses will be built.
Rungapiko, on New Plymouth’s Weymouth St, is another project on the books, which will see eight one-bedroom kaumatua flats and six town houses constructed by 2025.
Te Kotahitanga o Te Atiawa chief executive Dion Tuuta said about $25-30 million of its $130m asset base applied to its commercial and residential property interests.
The iwi property strategy was designed to be “slow” as the idea was for it to be sustainable and self-financing over time.
Tuuta said the iwi entity was essentially still in “start-up” mode and the last two years had been about building up its administration systems and staff.
He said all the work the iwi entity was involved in was focussed on growing Te Atiawa identity, and providing pathways to ensure the needs of current and future generations of its people could be met.
“Property is a means for people development.”
It is understood the iwi still hopes to develop the former Barrett St hospital site , known as Ōtumaikuku, but discussions were ongoing about the need to ensure the 7.6 hectare property was clear of contamination first.
A 13.5 hectare site, known as Okoare on Tukapa St, is another on the radar for potential development, while plans to develop a 60-section subdivision on Waitara’s Bayly St , which would see 25 homes built, had been previously announced.
The renovated business hub is now called Ngāmotu House.
Last year, the iwi also pushed ahead with the demolition of the old Education House building , on the corner of Eliot and Courtenay Sts, which will be leased out as car parks in the interim.