raising questions from local real estate agents
Government landlord Kāinga Ora has paid $8.1m for a Rotorua motel unit to house homeless people, raising the eyebrows of local real estate agents who say it is well above the capital value (CV).
This week the Government announced its housing arm Kāinga Ora was in the final stages of buying the 30-unit Boulevard Motel at 265 Fenton St for $8.1m.
The Ministry of Social Development has no record of the motel previously being used for emergency housing. It will be turned into transitional housing for 80 people.
In the announcement, the Government said the "warm and dry" short-term housing would be managed by Wera Aotearoa Charitable Trust and provide residents with 24/7 wraparound support.