Kenepuru housing plan
A developer planning a $45 million housing development in Kenepuru was forced to liquidate a similar scheme in 1995, owing $3m.
Phillip McNeil unveiled his ecofriendly, affordable housing scheme to Porirua City councillors last Wednesday.
Dubbed LivWork Play Village, it would create 159 homes on a former wrecker’s yard at 54 Raiha St, opposite Hospital Rd.
To make the houses affordable, Mr McNeil asked councillors to waive an estimated $ 2m in resource consent fees, and rezone the land from industrial to residential.
In return, the rates take from the site would increase from $27,000 to $300,000 a year, he said.
Councillors are yet to debate the proposal. the city centre that car use could be minimised, he said.
Mr McNeil has not yet bought the Raiha St block and is waiting on the council’s approval to spend money on detailed design work.
If he got the green light, work could begin in January, he said.
At Wednesday’s council meeting, Cr Litea Ah Hoi said the scheme sounded wonderful, but asked if it was a Ponzi scheme.
‘‘If it sounds too good to be true, why haven’t other people done it?’’ she said.
Mr McNeil said nobody else had noticed the potential of the site.
Deputy Mayor ’Ana Coffey said she worried speculators would snatch the properties before firsttime buyers had a chance.
Izzy Ford hoped people who took equity with Mr McNeil’s company, Limitless, would not be stung when trying to resell.