A $10 million community housing development proposal in Queenstown is closer to becoming a reality after Housing Minister Phil Heatley yesterday announced a $1 million grant.
The Queenstown Lakes Community Housing Trust was included in the recipients for the latest round of Housing Innovation Fund Grants.
Trust chairman David Cole told the Otago Daily Times he was "absolutely delighted" with the announcement.
The trust is proposing a comprehensive development of 22 houses at its Nairn Square land in Lake Hayes Estate, which would also include "a little bit" of commercial activity.
"The $10 million development is a pretty significant undertaking for a community housing trust and we needed a bit of horsepower behind us.
"We have been in dialogue with the Housing Corporation and Government for some time.
"It's really pleasing to see them come to the party," Mr Cole said.
The trust would be talking to banks to help with the shortfall, but there was an expectation a lot of the houses would be sold through the trust's shared ownership scheme before the development began.
The housing trust would build all 22 of the three and four-bedroom houses on land which it already owned.
The development had been seen by the Urban Design Panel and was less intense than a previous proposal by the former landowner for about 40 units, varying from apartments to houses, he said.
