This group plans to create New Zealand's first Baugruppen project, with an urban village of twenty terraced townhouses in Frankton, Queenstown. The group, led by experienced property professionals, is very focussed on quality urban design: density done well, sustainable and energy efficient building and creating a great community environment.
Households are to also benefit from greater affordability and value for money as the project is delivered at cost no third party developer profit margin. This is not an affordable housing initiative, in an absolute sense but a more affordable housing initiative. A co-operative structure enables a group of families/couples/individuals to combine equity and self-develop a residential project for themselves. Removing 3rd party developer profit and risk, as well as marketing costs is at the heart of the the Urban Village's effort to confront affordability head-on, in New Zealand's third-east affordable region.
The Baugruppen Model
This approach draws heavily from both the German Baugruppen model, which has been proven to provide increased affordability, and close to home, the Melbourne's Nightingale projects such as the Commons.
The Frankton area is well located with increased access from the newly formed Hawthorne Drive, close proximity to the airport and the location of the new Wakatipu High School. Expansion of commercial areas and access to recreational facilities make it the perfect location for full time residents who want inner city living. Access to public transport, the ability to walk/bike and proposed enhancements such a ferry terminal and gondola, encourage car-free residence, combined with great sunshine hours and views.
Housing will be terraced townhouses of two to four level walk ups. These are likely to range from 2-4 bedroom main residences with optional studio or 1 bedroom attached apartments. The group hopes to create body corporate owned earning assets within the development, to offset future maintenance costs, with openings for profit redistribution, invested in other funds or donated to charities.
With long term owner-occupiers being the primary end user Queenstown Urban Village intends to contributes to the amenity of their special location. Sustainable and energy efficient building materials and practices will be utilised so the ongoing costs of running the homes is reduced. The use of locally made products and businesses will be utilised wherever possible.
The group is still open to both expressions of interest ands also angel investment.
Interested? See a financial overview here. Express interest, here or .