Property developer Paul Adams remains committed to the cause of rejuvenating Tauranga’s CBD through his work in non-profit charity Accessible Properties.
Mr Adams handed over the mantle of managing director of his property company, Carrus Corporation, to son Scott so he could concentrate on philanthropic pursuits.
Tauranga was recently ranked as the 12th least affordable to buy a home in the world, out-ranking Auckland as New Zealand's most unaffordable city.
Accessible Properties, where Mr Adams is chairman, is a social housing provider that took over Tauranga's stock of state houses in April last year.
Owned by IHC, Accessible Properties specialises in social housing and manages 1600 properties throughout New Zealand.
Mr Adams also set up Civic Amenities Group, a community action group which wants new arts and sports facilities built in Tauranga.
Mr Adams grew up in a state house in Porirua and moved to Tauranga as a civil engineer in 1981. He went kiwifruit farming and built an empire encompassing 45 orchards, 11 packhouses and cool stores, employing 200 people. He moved on to residential property development and Carrus built subdivisions including Aotea in Porirua, and The Lakes and Bethlehem Heights in Tauranga.
Mr Adams has invested $2.5 million into Oriens Capital, going by his half-share in Commercial Fund Investors, which has a 10% stake.
The most notable venture is its 56% shareholding in Hawke’s Bay apple company Rockit Global. The company markets the Rockit apple, specifically bred small and packaged in plastic tubes to be sold as snacks, rather than the fruit aisle of a supermarket.
Mr Adams also has a 30% stake in Australian consumer products company Pacific Brands, owner of the Sheridan, Bonds, Berlei, Tontine and Dunlop Flooring brands, where he was appointed a director last August.
Photo: New Zealand Herald/newspix.co.nz