The Queenstown Lakes Community Housing Trust is to get another 11 Albert Town sections, valued at $1.8 million, at no cost.
Property development company Infinity Investment Group handed over one section in its Riverside Park subdivision to the trust in 2010 and announced yesterday 11 more were to be "gifted'' to the trust.
Managing director Paul Croft said the handover was part of a 2007 agreement with the Queenstown Lakes District Council prior to the development going ahead.
Mr Croft said the company was delighted to be able to provide the sections in a subdivision that was otherwise fully sold.
Deputy mayor Lyal Cocks welcomed the company's "contribution''.
"As the district's population grows and house prices rise, it is important to support all initiatives and activities that offer affordable first-home options for young families and those on lower incomes.
"Infinity's generous contribution of these sections enables the housing trust to provide affordable housing options, vital to the benefit of our district.''
Trust executive officer Julie Scott said the new sections were "much needed''.
"We have a solid waiting list of Wanaka households seeking housing assistance and this contribution from Infinity will certainly help in satisfying some of that demand.''
The trust plans to build 11 "small but good-quality homes'', Ms Scott said.
"Some of these will go into our shared ownership programme, whilst some will remain in our long-term rental portfolio.
"The need for affordable and secure tenure rental properties is becoming a major concern in Wanaka.''
The company previously gave the trust six sections in its Peninsula Bay development.
