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Kainga Ora Sells Albany Land for $20 M, Funds Homes

6/2/2026

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Summary

Story summary

After a 2024 audit criticised the agency’s use of credit, Kainga Ora has put 1.6-hectare site at 80 Don McKinnon Drive in Albany on the market.
Taxpayer records show $1.2 million spent and a $20 million purchase price while a disclosure alleged the land was overpaid and the twin-tower scheme unviable.
Kainga Ora says proceeds will fund homes for tenants and a reset plan that off-sells 20 percent of land and cancels projects.

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Story summary

After a 2024 audit criticised the agency’s use of credit, Kainga Ora has put 1.6-hectare site at 80 Don McKinnon Drive in Albany on the market.
Taxpayer records show $1.2 million spent and a $20 million purchase price while a disclosure alleged the land was overpaid and the twin-tower scheme unviable.
Kainga Ora says proceeds will fund homes for tenants and a reset plan that off-sells 20 percent of land and cancels projects.