Homeless? Try a high-rise
Meet the couple taking a leap of faith to solve their housing problem. By Colleen Hawkes.
FINANCIALLY, it must be the most ambitious Grand Designs project ever filmed in New Zealand.
But the show that screens this Tuesday, October 24, is also significant for the unusual approach a couple are taking to the housing crisis, and the lengths they are going to, to secure a home in central Auckland.
When Brendon Poole and Nikki Cliffe found that buying a house in Ponsonby was out of their reach, instead of downsizing their expectations, they raised them.
They decided to borrow more and build more – an entire apartment block. In doing so, they have joined the ranks of developers intensifying Auckland city.
But the couple have no plans to sell. They intend to retain ownership of all three apartments in the Vinegar Lane project in Ponsonby, living in one, with the rent from the other units and ground-floor commercial premises covering their very high mortgage payments.
‘‘We had been looking in this area, but prices were so hugely prohibitive for us to purchase a villa we liked,’’ says Poole, who works in sales in the property industry.
‘‘The ironic thing is, it actually works out easier for us to do this.’’
The pair acknowledged the huge risk factor. Their budget started at around $2 million and it’s now over $5 million, and growing. They are borrowing most of this, and gambling on being able to make the sums work.
Poole and Cliffe, and 2-year-old son Cooper, have just moved into the completed penthouse on the top floor – the first home they have owned together – and the Grand Designs reveal is happening when we visit.
Architect and Grand Designs guru Chris Moller is clearly impressed with the ambitious approach. He calls it ‘‘urban farming’’ and believes the pair are pioneering a new way of living that is just as ‘‘scary’’, financially, as breaking in farmland would have been for New Zealand’s early settlers.
‘‘We are learning from the Netherlands (with its highly built-up cities) about what it means to live in the 21st century in a serious urban environment,’’ Moller says.
‘‘This project is really setting a precedent.
‘‘It’s exciting, and it’s lovely to see people brave enough to try new ideas about urban living. They have had to juggle a lot of risks, but they will have five income streams. It’s five steps up for a couple who couldn’t afford to buy in Auckland.’’
Moller says when the crew first visited the site, it was just a massive hole – one familiar to most people living on this side of the city.
Now, the building is nearing completion. The couple’s own apartment includes a huge roof deck with a swimming pool and spa.
Cliffe, an events manager, says there may be opportunities to use the rooftop for private functions. ‘‘We are looking at the building as if it is a business, and working out how to maximise the income stream.’’
The couple also like the fact that the central city living means they can have a low carbon footprint.
TOA Architects designed the building to sustainable design criteria, and says the penthouse is the first apartment to achieve an 8-Homestar design rating. The interior design is by Wonder Group. The Grand Designs NZ episode featuring the Vinegar Lane project screens on Three on Tuesday, October 24 at 7.30pm