A new land development company will cut its teeth on a 500 lot development in Warkworth.
Kaha Ake (Stronger Together) is a joint venture company between Tauranga-based developer Classic Group and the $58 billion NZ Super Fund.
The company has purchased 10ha unconditionally and has contracted a further 27ha conditionally, south of Warkworth in the Valerie Close area.
A company spokesperson says that an estimated 530 homes will be built, with an emphasis on affordable housing.
The development also proposes four hectares of public open space, an extensive network of riparian (stream corridor) walkways and a one-hectare village centre.
The process to this point has been led by Kaha Ake in collaboration with other land owners. In total, the area will be part of a 100ha private plan change application expected to be lodged with Auckland Council early next year.
The company estimates the plan change process will take two years, with land development starting in 2024 and housing to follow in 2025.
Auckland Council plans for southern Warkworth already provide for Morrison’s Heritage Orchard as a rural feature of the town and a bus station/interchange.
Under Auckland’s Unitary Plan, around 1000ha of land immediately surrounding Warkworth has been zoned future urban, which will eventually accommodate an estimated 7500 new dwellings including town houses and apartments.
Development is sequenced in stages over the next 20 years as bulk infrastructure such as wastewater, water, power supply and community facilities come on stream.
About NZ Super Fund
The $58 billion NZ Super Fund is a global investment fund that was established by the New Zealand Government to help pre-fund universal superannuation. It currently has more than $7 billion invested in New Zealand including significant stakes in Kaingaroa Timberlands, Datacom, Kiwibank, Fidelity Life and NZ Gourmet.
About NZ The Classic Group
The Classic Group has 25 years’ experience in the property sector and includes a land development company, Classic Developments, and residential builders, Classic Builders. Its projects include a joint venture partnership with Western Bay of Plenty District Council to deliver affordable housing in Omokoroa, a 13.8 hectare joint venture project in Papamoa, 120 hectares of future development in Tauriko, a 72-lot subdivision in Queenstown, Edgewater
Apartments in Hobsonville and a 650-lot subdivision at Ramarama (Hunua Views) in Auckland. In total, the privately owned company says it currently has a land pipeline of about 3000 sections. The company’s two directors are Peter Cooney and Matthew Lagerberg.