Fewtrell, 75, is also establishing the Dunedin Homes Charitable Trust, inviting people to apply for improvements like new roofs, double glazing, or heat pumps. In January, Fewtrell announced plans to develop about 60 affordable homes across the city, selling them $100,000 below market value. He told the Otago Daily Times his company, DRDL2023 (Dunedin Residential Developments Ltd), now aims to build four times as many homes. The homes will be sold at market value, but he decided to give away cash from his wealth to help people purchase his homes, ensuring affordability. If a homeowner sells within three years, they must sell back to Fewtrell for the purchase price and return the handout.

Source: Otago Daily Times July 29, 2024 21:26 UTC