Pet project to become reality
Pet-friendly, wallet-friendly apartments for Wellington could make inner-city living achievable for young professionals.
On Taranaki St, a twobedroom unit used to be hotel space, now it’s a model for the Wellington City Council’s affordable rental scheme, and would cost about $550 a week to rent.
Project leader and developer Alex Cassels said people and city workers wanted to live in the CBD but options were limited.
‘‘We want an affluent city but we also want a city that accommodates students and workers.’’
Instead, the rental situation was getting worse, Cassels said.
Every year, there were reports of people lining up outside of apartments and flats in the city and nearby suburbs.
‘‘People not being able to come to Wellington and find flats is disastrous for the city.’’
In September, The Wellington Company teamed with the council for a 15-year lease agreement to provide 35 affordable rental apartments for CBD workers.
In a second announcement yesterday, the company said it had ring-fenced a further three commercial buildings for conversion – room for 500 people.
The apartment scheme is geared towards working people who may struggle with rental affordability, such as nurses, teachers and public sector workers. Apartments would be pet-friendly and have free wi-fi.
They would also be suitable for minor amendments and be available for long-term leases which, Cassels said, would encourage them to be treated like homes.
The inconvenience of commuting was negated by an inner-city complex.
Money that young workers could save on commuting costs could be spent at inner-city businesses, he said.
The council says the partnership is the first of its kind in New Zealand.
Mayor Justin Lester had a look at the new model apartment on Taranaki St yesterday. At a council meeting next Thursday, councillors would consider three similar further proposals, he said.
The council had received about 40 initial expressions of interest for the scheme, which was announced in September.
Under the scheme, The Wellington Company would own the property, which the council would lease at a generous rate.
That low rate would be passed on to tenants as affordable rent.
Rents would increase only according to the CPI – not increasing with the market rate, Lester said. The amount would depend on the property and other factors.