Tākaka Cohousing

Location

Tākaka, Tasman

Stage

Developing

Date Initiated

Jan 2020

Date Completed

Expect Dec 2023

Housing Type

Cohousing

Number of Residents

50-55 Adults, 8 Children

Number of Dwellings

34

Size of Land

2.37 Ha (First development only)

Developed By

Te Hapori Hauora Trust is the overall governing body of the land. Mohua Ventures is the development company we started to develop this project.

Legal Ownership Structure

Unit Title Body corporate model with a community land trust (charitable status) which owns land not occupied by residents or managed by the body corporate.

Individual Dwelling Tenure

Unit Title

Funding Model/s for Development

Owner equity 30%, 70% Commercial Construction Loan with Kiwibank

Housing Type and Numbers

34 duplex units

Shared Facilities

Common House, Storage shed, Workshop, Shared Gardens, Laundry

Total Cost in Year Completed

$26 million

Governance Model

Consensus, coloured cards model for decision making with a 75% final vote backup if consensus can’t be reached

What were the external barriers experienced during development?

Funding, change in housing market, covid, building supply issues, legal requirements to secure construction loan means high risk for residents. Huge increase in interest rates and cost of living from the start of the project to when first mortgages are being secured. No support for affordable housing or partner organizations available to support affordable housing.

What were the internal challenges during development?

Selling the last two houses after the housing market decreased. Financial pressures meaning the delayed building of the common house. Changes in residents and constant onboarding increasing pressure on the development team.

If you had your time again, would you do anything differently?

Ensure absolutely all residents have sought independent legal advice before signing legal agreements. Create a bigger contingency margin.

What advice would you give to aspiring projects starting out?

Factor in at least 10% contingency, and have a paid team dedicated to the project. This is the only way we have survived in challenging times.

Further Information and Contacts

www.takakacohousing.co.nz; kiaora@takakacohousing.co.nz

Can People Contact You Directly to Ask Questions?

kiaora@takakacohousing.co.nz