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Te Pākau Maru
Karamū
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Investment Memorandum
Te Pākau Maru
Karamū
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The Residences at Karamū

The Residences at Karamū was completed in 2022 and is a mixed, blind tenure residential development in Riccarton, Christchurch, created through a partnership between the Home Foundation and Ngāi Tahu Property. 


Designed with five distinct typologies, each built to a 6 or 7 Homestar rating, the development prioritises quality, aesthetics and sustainability to provide all residents with a healthy, well-appointed home, regardless of tenure.


With a clear vision from the outset, developer Kāinga Maha collaborated with the Ministry of Housing and Urban Development, Ngāi Tahu Property, the Christchurch Methodist Mission, and Emerge Aotearoa to fast-track the development, which was constructed by Home Construction. Home Capital Partners maintains a long-term commitment to The Residences at Karamū, leasing 28 homes to two Community Housing Providers and Home Foundation supports residents through community development initiatives and social services. Through industry partnerships, as well as leveraging the collective expertise of the Home Foundation Group, The Residences at Karamū showcases the power of collaboration in serving the housing needs of Kiwis home by home and family by family. 


To ensure affordability and promote home ownership, a strategic limit was placed on investor purchases, allowing priority access for first-home buyers at a 30% discount off median local prices, along with allocations to Community Housing Providers. This approach not only preserves affordability but also enables capital gains to benefit a wider range of families while still providing some market sales for project viability.

Development Features

$42 million dollar project value 


84 Mixed Tenure, Homestar 6 & 7 Homes 


28 homes achieved full carbon offset 


35% first home buyers (homes sold at 30% under median house price) 


33% homes retained for Community Housing 


32% Owner Occupiers 


Property Industry Awards – Community & Affordable Housing Property Award – Supreme Award Winner.


Australasian Housing Institute – Leading Housing Development Project NZ – Master Planned Community Building.


UDINZ Photography Competition – Density Done Well. 

Photo Gallery

    Built for Community

    Blind Mixed Tenure

    Carbon Neutral Construction

    Blind Mixed Tenure

    Designed to integrate social housing, market rentals, first home buyer homes and market sales, Karamū provides security across the housing continuum.

    Housing Mix

    Carbon Neutral Construction

    Blind Mixed Tenure

    35% First Home Buyers

    (Purchased at 30% below median price)

    33% Community Housing

    32% Mixed Ownership and Market Rentals

    Carbon Neutral Construction

    Carbon Neutral Construction

    Carbon Neutral Construction

    A commitment to sustainability was embedded in the project, including full carbon offset initiatives for the community housing homes.

    Partnership Approach

    Partnership Approach

    Carbon Neutral Construction

    This project was funded by Home Capital Partners, enabled by Home Foundation and Ngāi Tahu Property, developed by Kāinga Maha, built by Home Construction and leased to Christchurch Methodist Mission and Emerge Aotearoa.

    Award Winning

    Partnership Approach

    Home Star 6 & 7

    Property Industry Awards – Community & Affordable Housing Property Award – Supreme Award Winner.

    Australasian Housing Institute – Leading Housing Development Project NZ – Master Planned Community Building.

    UDINZ Photography Competition – Density Done Well. 

    Home Star 6 & 7

    Partnership Approach

    Home Star 6 & 7

    Designed to achieve high levels of energy efficiency and healthy indoor living, with social housing having mechanical ventilation systems that support air quality and comfort year-round.  

    Interested in investing in projects that provide financial and social returns?

    Contact us today

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