We are pleased to share an important step forward in our journey.
Our current property development in Ōrewa, includes four rental units. In the coming months, we are expanding the site by adding two additional units, bringing the total to six. This development represents a significant milestone in strengthening the Trust’s long-term sustainability and increasing future grant distributions.
Reaching this point has required careful planning and perseverance. We are now nearing the building stage of this project and are excited about what lies ahead.
While the Trust has some funds available, a bank loan will be required to complete the project unless additional legacy gifts are received.
Our current plan is to allocate the rental income from one unit toward meeting mortgage repayments.
However, reducing the loan burden would significantly increase the income available for grants. A legacy gift toward this development would directly lower repayment commitments and free up more rental income to support the purposes of the Trust.