Affordable Housing Fund
The Affordable Housing Fund will support the development of new, affordable homes for low-to-moderate income people and whānau, in locations facing the biggest housing supply and affordability challenges.
The $350 million investment will help grow the affordable housing sector, which is critical to addressing the needs of New Zealanders who struggle to meet the cost of a market rental but can’t access public housing.
The first funding round will support affordable rental housing
Generally, it is too expensive to construct and sustain new housing and offer rent at a rate that is affordable for lower income people and whānau. The Affordable Housing Fund helps to address this issue by offering funding to make these projects financially viable.
The first stage of the Affordable Housing Fund will offer $50 million worth of grant funding to not-for-profit organisations to deliver affordable rental housing in Auckland, Tauranga- Western Bay, Rotorua, Napier-Hastings, Wellington Metro, and Nelson-Tasman.
Not-for-profits include community housing providers, Māori and iwi organisations, councils, churches, or charitable trusts.
More information about eligible proposals and how to apply will be available from mid-2022.
Future funding rounds
We will be making further announcements about how the Affordable Housing Fund will support additional provision of affordable housing, including locations, types of housing, and opportunities to attract new or increased investment to support affordable housing.
For more information you can contact us at AHF@hud.govt.nz
Published: May 19, 2022