CHFA surpasses half a billion in lending 

The result follows a strong first 18 months for CHFA, gaining Government support through a $150 million Crown standby facility, receiving an A+ credit rating from S&P Global Ratings, and issuing New Zealand’s first domestic Social Bonds.

CHFA Chief Executive James Palmer says the growth reflects both the scale of New Zealand’s housing crisis and confidence in CHFA’s financing model.

“Reaching half a billion in lending in 18 months is a significant milestone for CHFA, but more importantly, it represents real homes, real projects and real progress for New Zealanders who need stable, affordable housing.”

Palmer says the milestone showed scalable solutions to the housing crisis were possible.

“New Zealand’s housing crisis is measured in the billions, so the solutions must be at the same scale. Reaching this milestone so quickly shows what is possible when financial innovation is backed by strong partnerships across government, investors, philanthropists, and community housing providers.

“Tens of thousands of New Zealanders are still waiting for homes that do not yet exist. There is much more work to do, but this milestone gives us reason for hope,” says Palmer.

CHFA has grown its lending portfolio to more than thirty community and affordable housing providers nationwide, supporting projects across major cities and regions, delivering social, community and affordable housing, progressive home ownership, housing for older people, Māori, and Pasifika housing.

James Te Puni, Chief Executive of New Zealand’s largest Māori-owned Community Housing Provider, Te Āhuru Mōwai, started working with CHFA last year and describes the organisation as more than just a lender.

“We see the team at CHFA as a valued, long-term partner of Te Āhuru Mōwai. They believe in our vision, our kaupapa, and they share our commitment to do more, and do better, for the tamariki and whānau in our communities who need housing.

“Financially, CHFA gave us access to lending terms and rates that have meant real savings, giving us the ability to scale up and deliver over 100 more whare for our people, changing lives for the better,” says Te Puni.

Cate Kearney, Chief Executive of the South Island’s largest community and affordable housing provider, Ōtautahi Community Housing Trust (OCHT) said CHFA’s support helped deliver their Three Lanes development.

“CHFA’s long-term, purpose-driven finance helped turn our ambition for Three Lanes into the reality that is our award-winning Three Lanes development – delivering sixty-five new social, affordable rental and progressive home ownership homes for the community.

“Three Lanes demonstrates the power of investing in social good, generating around $15 million in local economic activity during construction, while creating a lasting community asset that will provide housing stability for generations to come,” says Kearney.

Palmer says the agency was proud of what it had achieved to date and had no plans to slow down.

“We are proud to demonstrate that purpose-driven finance can deliver real outcomes for investors, the Government, our borrowers, and Kiwi families needing a home — it is a unique model where we all win.”

Ōtautahi Community Housing Trust’s Three Lane Development