apr 30, 2015 - Tamaki Transformation Programme: Announcement of the transfer of state housing assets

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The Government announced that the ownership of 2,800 Housing New Zealand Corporation (HNZC) properties in Tamaki (Glen Innes, Point England and part of Panmure in east Auckland) would be transferred to the Tamaki Redevelopment Company (TRC) to encourage regeneration of the area. The responsibility for tenancy management was also to be transferred from HNZC to the TRC, though there would be no immediate impact on tenants, with existing tenancy agreements transferring to the TRC.
The transfer was completed on 31 March 2016. It was intended that over the following 10 to 15 years around half of the 2,800 houses would be sold to offset construction costs, with a total of around 7,500 new houses built. There would be no reduction in the total number of social houses in Tamaki.
The Government had also approved a $200 million loan facility for the TRC to accelerate regeneration work. The loan facility was made available ahead of the transfer of the houses to allow the TRC to progress its own development and planning.
The TRC, New Zealand’s first community-based urban redevelopment company, was established in 2012. It was publicly owned (59 percent by the Crown and 49 percent by the Auckland Council).

Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html

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