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The new Ōwhata Kōhanga Rākau housing development being built on whenua Māori in Rotorua is being supported by Westpac NZ and will provide a range of different housing options for local whānau.
When it's completed, the development will deliver 93 mixed tenure homes to local Rotorua whānau through social housing, affordable rentals and shared home ownership arrangements (also known as progressive home ownership).
Westpac has provided funding for the project – where 36 affordable rental homes have been completed and a further 30 homes are under construction.
Westpac is also providing mortgages to help whānau purchase properties through Ōwhata Kōhanga Rākau’s shared ownership pathway on leased land.
An entrance sign for the development has just been unveiled in what Jason Rogers, Ōwhata Kōhanga Rākau Chairman, says is a significant milestone.
“Ultimately this community will comprise 93 new, well designed warm homes on whenua Māori. Our goal has been to bring stability in housing outcomes for our people and the sign is a milestone that will strengthen that sense of connection to the whenua. This is a significant undertaking and the project will deliver much needed housing for our people and the community,” Mr Rogers says.
“Having Westpac on board as a bank partner has meant we’ve been able to work quickly to begin delivering the next stage of homes and we’re grateful for their support. We’d also like to acknowledge the support of the Ministry for Housing and Urban Development and Armillary Private Capital, who acted as financial advisors and undertook the financial modelling for the project.”
Reuben Tucker, Westpac NZ General Manager Institutional & Business Banking, says Westpac is pleased to be able to play a role in the development.
“As a bank, we’re committed to supporting more New Zealanders to find a place to call home,” Mr Tucker says. “The range of different housing options available through the Ōwhata Kōhanga Rākau development is hugely significant, especially since it is on whenua Māori. We’re excited to support the aspirations of everyone involved.”
The first stage of the development opened in December 2024, when 16 whānau moved into affordable rental properties. In May 2025, local kaumātua moved into 20 affordable rental properties that were set aside specifically for them in the heart of the new community.
The full development is scheduled for completion in 2026.