Information provided as an excerpt under section 16(1)(e) of the Official Information
Act 1982
Kāinga Ora – Homes and Communities
Status Report
For period 4 January 2025 - 17 January 2025
2.Updates for Hon Chris Bishop, Minister of Housing
Dixon Street Update
A business case recommending the sale of 134 Dixon Street wil be presented to the Kāinga
Ora Board on 25 February 2025. The draft business case concludes that the sale of the
property and potential replacement of the units through market acquisitions is a more
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financially sustainable option and would enable more flexibility in terms of the number, size
and typology of units acquired over time to meet customer demand. This option also avoids
Act
the high levels of risk and potential cost increases of a complex remediation project.
We have considered the implications of the proposed amendments to the Resource
Management Act that were introduced into Parliament on 9 December 2024. Our view is that
for buildings with significant heritage values such as 134 Dixon Street, delisting wil still be a
Information
complex and uncertain process. Given the significant holding costs and attendant reputational
risks, sale of the building remains our preferred option at this stage. However, in the event a
sale cannot be achieved, further consideration wil be given to delisting the property or seeking
a resource consent to demolish the building.
Official
Monthly Report to the Ministe
the
r of Housing and Minister of Finance
January 2025
Executive summary under
• We are technically forecasting to be over in Wellington by 152, as the sale of the Dixon
Street apartments (117 units) has been removed from the sales forecast in 2024/25
and moved into the 2025/26 financial year. However, as these homes have been
removed from servi
Released ce for some time, in practical terms, the over delivery is only 35
homes.
Key projects and programmes update
• One project, Dixon Street, has been given a red status, while largely back on track, it
has been given a red status because it wil not be delivered in this financial year as
originally anticipated.
• We are technically forecasting to be over in Wellington by 152 as the sale of the Dixon
Street apartments (117 units) has been removed from the sales forecast in 2024/25
and moved into the 2025/26 financial year. Noting these 117 homes have been
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removed from service so in all practical sense the forecast Wellington over delivery is
35 homes.
Total projects
Proposed Estimated budget
homes
($ mil ion)
1 project with delayed
delivery requiring red
117
$125
status
• One project, Dixon Street has been given a red status. The project is now largely back
on track, with approval given by the Board Investment Delivery Commit ee (IDC) to
proceed to sale with the right of first refusal (RFR) holder and having received Treasury
confirmation that the risk profile assessment (RPA) is medium. We have marked it as
red purely because it wil not occur this financial year as originally anticipated.
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Kāinga Ora – Homes and Communities Act
Status Report
For period 14 February - 20 February 2025
1. Updates for Ministers
Information
Update on Dixon Street
A business case recommending the sale of 134 Dixon Street was considered by the Kāinga
Ora Investment and Delivery Committee on 17 Februar
Official y 2025. The Committee recommended
the business case be presented to the Kāinga Ora Board on the 25 February for decision.
the
The business case concludes that sale of the property and potential replacement of the units
through market acquisitions is a more financially sustainable option and would enable more
flexibility in terms of the number, size and typology of units acquired over time to meet
under
customer demand. This option also avoids the high levels of risk and potential cost increases
of a complex remediation project.
We have considered the implications of the proposed amendments to the Resource
Management Act that were introduced into Parliament on 9 December 2024. Our view is that
Released
for buildings with significant heritage values such as 134 Dixon Street delisting wil still be a
complex and uncertain process. Given the significant holding costs, sale of the building
remains our preferred option at this stage. However, in the event a sale cannot be achieved,
further consideration wil be given to delisting the property or seeking a resource consent to
demolish the building.
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Kāinga Ora – Homes and Communities
Status Report
For period 4 July – 18 July 2025
Sale of 134 Dixon Street to Port Nicholson Block Settlement Trust completed
The sale of the Dixon Street Flats at 134 Dixon Street, central Wellington, has now been
completed for $1.04m following the conclusion of the Port Nicholson Block Settlement Trust’s
(the Trust) due diligence.
Kāinga Ora is preparing to publicly communicate the outcome through a planned series of
stakeholder notifications, webpage updates and a proactive media statement. The
communications approach and timing is being finalised with the Trust, and the public
announcement wil occur once the plan has been agreed to by both parties.
As previously advised, this decision follows a detailed assessment of the building’s future.
Remediation would have required substantial investment, and the holding costs for ongoing
security and maintenance are significant.
under the Official Information Act 1982
Released
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