Affordable Sections Now Available for Red Zoners

Eighteen sections starting from $113,000 are now available to red zoners. The initiative was set up last year by the Canterbury Cooperative Land Trust in response to the lack of affordable sections available in Canterbury since the earthquakes.

The first stage of the development in Rolleston, at 200 Dunns Crossing Road , is a 1.5ha 18 lot subdivision on a flat contour with good ground conditions, with prices ranging from $113,000 for a 570 m² to $139,000 for a 1,080 m² section. The first phase titles will be issued in March/April 2013.

The Trust has partnered with Versatile Homes in order to offer affordable homes specific to this subdivision, although potential buyers have a choice who they use to build their home.

Councillor Glenn Livingstone, backer of the Trust, said “This is rare good news for red-zone residents in the face of ongoing struggles to secure affordable housing in Christchurch .. The Trust has worked long hours in a voluntary capacity to get these sections up and running. This development will be our template going forward for further affordable sections. The Trust welcomes the role Versatile Homes is playing in making this vision a reality”.

The section costs are able to be reduced by using a cooperative structure to carry out the development and avoid some of ths usual costs. This results in savings of 25-40%, or about $30-40,000 per section.

Property developer and trustee Grant MacKinnon said “The savings are genuine and the development will provide good quality fully serviced sections for Red Zoners to build new homes on. All we need now are 18 households to take up the opportunity.”

To take part and purchase a section, prospective buyers must be, or have been, a homeowner in one of the red zones. They are required to sign up to membership of the cooperative company Dunns Crossing Cooperative Company Limited, which is currently being incorporated. This company will then carry out the development under the umbrella of the registered charitable trust Canterbury Cooperative Land Trust.

The process will require a series of payments to the development. On completion the title will be transferred to the purchaser. Formal documentation will be provided in early August, which will outline the detail on the process.

Purchasers can register their interest in the sections by email (www.canterburyaffordablesections.org.nz) or in writing to the Trust (c/o Malley & Co, P O Box 1202 , Christchurch 8140) with their name, address and choice of section Sections will be allocated on a first come, first served basis.

The Trust has been able to proceed with the assistance of the following organisations, which have been generous providing their time and resources to achieve the objectives of affordable sections for red zoners:

• Malcolm Smith Consulting (surveying)
• Malley & Co (legal)
• DGM Group (Property Development)
• Versatile Homes and Buildings (housing)
• BG Contracting (contractor)
• Deloitte (taxation and accounting)
• Aurecon (geotech and ground)
• E2 Environmental (engineering)
• Iviis (software)

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