July 2017 - Five New Homes in Wadestown
Wadestown Ark Trust was established in the early 1980s to provide residential accommodation to elderly people in need on an owner-occupier basis. At this time the trust built five homes in Wadestown. In 2015 due to changes to the retirement village law and the resulting compliance requirements, the trust decided it could no longer continue to manage and operate the trust as it has done. However, Wadestown Ark wanted to ensure that the homes could still be used for affordable housing and that the current residents could remain living in their homes. As a result Wadestown Ark Trust approached Dwell to explore how the two organisations could work together.
Working with Wadestown Ark Trust, Dwell has again achieved our strategic goal of More Homes. On 30 June 2017 Dwell staff, board, and supporters celebrated the acquisition by Dwell of these five homes on Wadestown Road.
Dwell’s new Wadestown Road location is comprised of five homes, two of which will be part of Dwell’s shared home ownership programme. This allows the current residents to change their license to occupy into an ownership agreement. The current residents couldn’t afford to buy the homes outright themselves. Through a shared ownership with Dwell they could obtain ownership and remain living in their homes. This is a bit different to our usual shared home ownership programme where homeowners purchase approximately 70 to 85 percent of a property while Dwell owns the remaining portion.
Two of the remaining Wadestown Road homes will be available as affordable rentals. This option gives people the opportunity to rent a quality home at a lower-than-market rental rate. The other home will be used to house an individual or couple from the government's social housing register. Dwell is a registered social housing provider with the Ministry of Social Development.
Here at Dwell, it is our mission to provide affordable, quality housing where people flourish. By offering several versatile housing options, Dwell seeks to accommodate individuals of varying circumstances and paths in life and support positive, healthy communities.
Together, Dwell Housing Trust and Wadestown Ark have worked hard to provide more quality, affordable homes at a time when they are so greatly needed. We are proud to have worked with Wadestown Ark and we thank them for wanting to work with Dwell and their support in this endeavor. Our huge thanks to our legal firm, Succeed Legal, for all their hard work on what was some complicated legal arrangements and documents as well. Their ongoing support of our work is significant.
This was another great opportunity for Dwell to be innovative and creative and work in partnership to provide more homes. We are so pleased this opportunity has now been realised.