Generate KiwiSaver pumps $13.7 mill into social housing

Generate KiwiSaver Scheme has made a $13.7 million impact investment into the Te Puna Hapori - Verdi Social Housing Bond.

The deal provides funding for two new social housing projects, which will house 39 families (at least 78 people) currently living in sub-standard accommodation.

The lessees, Emerge Aotearoa and the Salvation Army, will each lease one of the developments and offer them as safe and affordable housing for families who cannot afford their own homes.

The leases are further underpinned by contracts between the lessees and the Ministry of Housing and Urban Development (MHUD).