The Government's defending paying 8.1 million dollars for Rotorua's Boulevard Motel
The Government's defending paying 8.1 million dollars for Rotorua's Boulevard Motel
22 July 2021
Kainga Ora has bought the on Fenton Street for emergency housing.
Local real estate agents say it's worth about half that.
But, Kainga Ora Bay of Plenty spokesman, Darren Toy, says the property will give more than 80 people warm, dry and safe homes.
He says it also has redevelopment opportunities to provide more homes.
He says the amount paid is in line with the market valuation, from an independent valuer, and adding up capital values of the six lots ... is overly simplistic.
© 2024 Newstalk ZB, NZCity