ACC funds 100 new homes in Auckland

ACC funds 100 new homes in Auckland | Insurance Business

ACC funds 100 new homes in Auckland

ACC has partnered with CORT Community Housing to fund, build and manage 100 new homes for people and families on the public housing waiting list in Auckland.

According to a statement by the accident insurer, it is investing $50 million in the joint venture, while CORT will oversee the development and management of housing units across Auckland.

CORT is working on a project with over 160 new houses in the Auckland region, and the partnership with ACC will allow it to build 100 more homes.

“Our team looks at a range of environmental, social and governance (ESG) factors when making decisions,” said Louise Marsden, member of ACC’s investments private markets team. “This partnership with CORT is a great opportunity for us to achieve social impact while also delivering a sound financial return for the scheme for the benefit of all New Zealanders.”

CORT CEO Peter Jeffries noted that ACC is a long-standing investor in key infrastructure for New Zealand, while CORT has successfully invested and managed high-quality public housing for more than 30 years.

“Both organisations share a similar long-term investment horizon, so forming this joint venture is a great fit,” said Jeffries.