Binnie Road Village
Location
Katikati, Bay of Plenty
Stage
Shelved
Date Initiated
July 2018
Date Shelved
August 2019
Housing Type
Residential Cooperative
Number of Residents
Estimated 27 adults + 18 children
Number of Dwellings
18
Size of Land
0.5 Ha
Developed By
Developer
Legal Ownership Structure
To be determined
Individual Dwelling Tenure
The land & shared amenities will be owned by the residents of BRV co-operative. Each homeowner holds an equal share, which includes a license to occupy agreement for one house, in perpetuity.
Funding Model/s for Development
Aimed for 30% owner equity (ie, future residents purchasing the land, then borrowing construction funds with land as security). Commercial loan offered* by Westpac, Residential Mortgage lending offered* by SBS & Westpac. (*in principle offers)
Housing Type and Numbers
1-4 bedroom homes range from 60-90 sq.m, single-level or with mezzanines
Shared Facilities
Small workshop, Commercial space (mainly for commercial return to the residents/ overheads, some could be made avail for residents/ community use), bike parking & charging, EV parks, potential for shared vehicles, Rooftop garden, BBQ, covered seating area, Laundry, drying area, Rubbish & Recycling, Services, then additional subject to budget & resident voting (eg. Solar, spa pool/ sauna etc)
Total Cost in Year Completed
Estimated budget $7.5 million (including land cost)
Governance Model
Consensus, t.b.d
What were the external barriers experienced during development?
Accessing funds for preliminary work, much pro-bono to present initial concept, invite interest; Uncertainty around Resource Consent despite council pledging support; Banks resistant to a group ownership scenario hence builder/ developer partnership required, staged to minimise lending; Grateful for Community funder grants for feasibility, business case.
What were the internal challenges during development?
Communication, expectations and participation of vendor, enthusiasm/ support/ objectives vs business processes/ decisions, very patient, however extended timeframe meant he moved on to different priorities. Timeframe to achieve milestones, hard to keep resident (and wider team!) interest
If you had your time again, would you do anything differently?
For now, just build in an affordable, commercial way, with cooperative agreements (unfortunately not legally binding over the Unit Titles) and hope for the best! Ie. Design & build for community, Approach a property developer/ investor as a group to build what we want?
What advice would you give to aspiring projects starting out?
Can you find an existing building/ homes to repurpose?
Further Information and Contacts
facebook.com/ConnectedLivingOpportunities/
Can People Contact You Directly to Ask Questions?
Yes - Bobbie Cornell - 022 8889993. REALitiArchitecture@gmail.com. info@closer.org.nz (until Dec. 2023)
