Generate impact investment builds new homes in Christchurch
There are now 35 new community homes in Christchurch, funded through Generate’s $14 million investment into the project. The investment is one of Generate’s impact investments, which aim to make a positive difference to the lives of New Zealanders, whilst providing fair market returns for their KiwiSaver members.
Tuesday, September 12th 2023, 9:26AM
Generate portfolio manager, Ayrton Oliver, says working with Community Finance and Ōtautahi Community Housing Trust shows the potential influence investing can have on social outcomes, as well as the financial returns for Generate KiwiSaver members over the long-term.
Community Finance facilitates and manages lending by issuing community bonds, which provide an innovative way to tackle the housing crisis where wholesale investors support the financing of homes owned and managed by leading charitable community housing providers, such as ŌCHT.
Oliver says new Christchurch homes also meet many sustainability goals by achieving the New Zealand Green Building Council’s Homestar 7 standard.
Since 2020, Generate has invested more than $45 million into affordable housing with partners including Community Finance as well as the Salvation Army and Brightlight. The opening of these 35 homes in Christchurch means Generate has contributed to the financing of 192 new homes.
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