Kōtuitui sets a new standard in affordable housing
Residential development Kōtuitui is setting a new standard in affordable housing with homes designed by an award-winning architect under $600,000.
The project will comprise 61 two- and three-bedroom terraced homes priced from $575,000 to $775,000.
Architecture is by Ken Crosson, renowned around the world with two of his projects featuring in World Architecture News as being among the six best houses in the world.
Crosson is also known by the New Zealand public for his stint co-hosting the television series The New Zealand Home.
In Crosson’s view everyone is entitled to quality housing, which is what drew him to the project.
“Affordable housing challenges us to create the best possible outcome at a price – something that New Zealand’s build economics makes particularly difficult.
“Master planning larger sites enables us to create an environment that supports long-term asset growth, which is essential, especially for first home buyers, as while the house needs to be affordable, it must still be an asset.”
Crosson says that Kōtuitui is a wonderful opportunity to achieve this.
“Kōtuitui means ‘to connect’ – a name that was gifted to the development by local iwi Te Ākitai Waiohua.
“Located just 500m from Manukau’s emerging city centre, Kōtuitui is connected to transport, shopping, immensely varied recreation and education facilities, as well as the immediate and surrounding community.
“When we look around the world, it is the areas that are connected to such amenity that achieve higher and longer than average growth.”
Pete Evans, National Director of Residential Projects at Colliers International agrees, saying astute buyers always look to purchase where infrastructure improvements are planned or underway.
“The Government has identified Manukau as a regional centre, meaning its set to benefit from continued investment in infrastructure.
“A major change programme is being led by Panuku Development Auckland with 600ha of Manukau Central and Wiri set to be transformed.
“Improvements include new Manukau train and bus terminals, revitalisation of Hayman Park and Puhinui Stream, as well as rejuvenation of the town centre to include a raft of new shops, eateries and community facilities centred around Manukau Plaza.”
Evans says investment in Manukau will invigorate the area, creating a more desirable place to live and therefore more demand and higher capital growth.
Crosson says the downtown Manukau location gives them the opportunity to create an urban environment yet maintaining a freehold terrace house typology – freehold being the highest form of ownership.
“The design uses solid and timeless materials, with subtle but distinctive variation resulting in individual buildings.
“Efficient building design gave a budget to increase value in other areas.”
The purchase price includes a full whiteware package, landscaping with established trees and grass and car parking.
Evans says having all the “extras” included in the purchase price is particularly attractive.
“Buyers usually stretch themselves financially to secure a property and then aren’t able to afford the lifestyle items that create real enjoyment of the home.
“These are often overlooked, but at Kōtuitui they can be financed through a mortgage over your home rather than being an additional cost when purchasers can least afford it - at move in time.
“Being able to supply first home buyers with a washing machine, dryer, fridge, heating and landscaping within the already affordable price points is very satisfying.”
Evans says it’s a great opportunity for first home buyers and astute investors who are usually locked out of affordable housing due to eligibility criteria.
A display suite will be open at 17 Putney Way in November.