What’s at stake: Builders and developers, responsible for delivering almost 2000 of a net 3605 public homes last year, are considering their future as the housing agency puts a hold on its home and property pipeline.
Background: Kāinga Ora is moving to cut costs in the wake of a damning report that shows it's been financially mismanaged and is facing a mountain of debt, likely to hit $23 billion within the next two years.
Main players: Kāinga Ora, Simon Moutter, Caroline McDowall, private property developers, Winton Land, Chris Meehan.
Kāinga Ora’s freeze on new projects will extend to agreements with home and land providers, an area of the business that delivered 1993 homes for the year to June, at an average $35,000 less than its own builds.
But those development partners are now pondering their future with the government
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What’s at stake: Builders and developers, responsible for delivering almost 2000 of a net 3605 public homes last year, are considering their future as the housing agency puts a hold on its home and property pipeline.
Background: Kāinga Ora is moving to cut costs in the wake of a damning report that shows it's been financially mismanaged and is facing a mountain of debt, likely to hit $23 billion within the next two years.
Main players: Kāinga Ora, Simon Moutter, Caroline McDowall, private property developers, Winton Land, Chris Meehan.
