Advance Notice - Invitation to Participate (ITP) in an at scale land supply opportunity

Details

This is advance notice of HLC’s intention to lodge an Invitation to Participate (ITP) in an at scale land supply opportunity

HLC (2017) Limited seeks to increase the scale and pace of housing supply in New Zealand by initiating housing development projects on under-utilised Government land. HLC is committed to the delivery or enablement of over 50,000 houses over the next 10-15 years (referred to as the “Wider Opportunity”).

In order to achieve these ambitious targets and transform the pace of delivery, HLC is seeking to engage with builders and developers/housing providers through the establishment of two partner groups. HLC will operate the two groups concurrently; one for “Developers/Housing providers” i.e. parties intending to acquire an interest in land and develop in accordance with a Development Agreement (“DA”) with HLC; and one for “Builders” i.e. parties intending to build houses under construction agreements with HLC but who are not intending to acquire an interest in land.

These groups will be referred to as the “Builder Partner Group” and “Developer/Housing Provider Partner Group” respectively, and the “Builder and Developer/Housing Provider Partner Groups” collectively. The groups will provide an efficient and effective means for HLC to allocate opportunities between the group members (referred to as “partners”). It is contemplated that parties may be partners in either or both groups.

The groups will operate over an indefinite period to deliver the Wider Opportunity development pipeline and will enable new partners to join and existing partners to be removed from to time. In joining the groups, partners will gain the option to bid on opportunities arising from the Wider Opportunity development programme.

HLC expects to formally release this ITP mid January 2019