Rotorua develops affordable housing for essential workers

A new housing project in Rotorua will help essential workers by offering homes at a lower rent. The homes will be available for $520 per week, which is 80% of the market rent of $650. This change could save workers around $6,760 per year. The initiative is organized by Home in Place, a not-for-profit housing provider. They are working with the Ministry of Housing and Urban Development and Watchman Capital. The project will include 58 homes, with 28 set aside as affordable rental properties. Economist Craig Renney explained that many middle-class workers are struggling to pay rent. He noted that rents are increasing faster than wages, making it difficult for professionals in fields like nursing and education to manage living costs. This housing development aims to ease the financial pressure on these essential workers.