Kāinga Ora could lose $30m on Ferncliffe u-turn, developers say
Housing agency paid a ‘retail’ price for the 95ha site, of which about a third is considered developable.
Ferncliffe Farm, up for grabs by deadline sale.
Kāinga Ora's proposed sale of Ferncliffe Farm near Tauranga could cost it between $20 million and $30m, private developers say.
The state housing agency, which paid $70.4m for the farmland in 2021, this week listed the 84.6ha site for sale with Bayleys Realty, after scrapping a plan to build 1100
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