Residential Development Underwrite

Description

RFx ID: 30257667 Organisation: Ministry of Housing and Urban Development Open date: Monday, 7 October 2024 10:00 AM +13:00 Close date: Monday, 6 October 2025 1:00 PM +13:00 Categories: 22000000 - Building and Construction Machinery and Accessories 30000000 - Structures and Building and Construction and Manufacturing Components and Supplies 72000000 - Building and Facility Construction and Maintenance Services 95000000 - Land and Buildings and Structures and Thoroughfares Region: New Zealand Overview: The Residential Development Underwrite is a new, time-limited, Government initiative to help the residential construction sector recover from the effects of the downturn. It will help maintain capacity in the sector, help grow housing supply and support developments to be ready for when buyers return to the market as the economy recovers. An underwrite is an effective tool to encourage more building activity, where the finance is provided by banks and other lenders. The RDU acts as the pre-sales needed for residential developers to secure development finance for consented, costed and ready-to-commence projects. HUD is inviting applications from experienced residential developers who can maintain construction pipelines for residential developments but need an underwrite on some of the houses to help confirm financing. The RDU will only be approved for developments that deliver significant housing supply, matched for that location and are at low risk and cost to the Crown. For more information, please visit our webpage (https://www.hud.govt.nz/our-work/residential-development-underwrite) and attend our webinar (Monday 14 October 2024). Please direct all enquiries to: rdu@hud.govt.nz