Te Awa Lakes

What Te Awa Lakes does

Te Awa Lakes is a 100-hectare, three-phase master-planned mixed-use development on the former Perry sand quarry at Horotiu, positioned at the northern gateway to Hamilton in New Zealand's Waikato region. Conceived in 2016 by Perry Group Limited and structured as the Te Awa Lakes JV, the project will deliver more than 2,000 (up to 2,500) homes across a spectrum of typologies — from 2-bedroom terraced houses to 5-bedroom premium lakefront dwellings — alongside a planned Village Centre for retail, hospitality, and tourism. Stage 1, currently selling at Clearwater Street, includes 79 dwellings built by GJ Gardner Homes, accessible housing from MTM Group, and 22 affordable homes delivered by Bridge Housing Trust under a 10% integrated affordability commitment.

The development's underlying technical concept integrates large-scale stormwater lake and wetland infrastructure as a defining amenity, with the Waikato River forming the entire eastern boundary. All homes include solar panels and battery storage. Approximately 2.5 million cubic metres of earthworks are required across the site (described as equivalent to 1,000 Olympic swimming pools), with around 350,000 cubic metres already shifted. Cultural governance is provided by a Mana Whenua Working Group established in May 2017, with a mauri stone buried on site in October 2020. Resource consent was granted in 2021, and the project received Government fast-track designation in October 2024. In April 2026 it became the first development in New Zealand to use the Infrastructure Funding and Financing Act 2020 levy, securing NZD 50 million via NIFF for bulk infrastructure, with the cost recovered across the community over 30 years.

The business model is primarily one-time residential property sales (off-the-plans and completed) supplemented by future commercial leases from the Village Centre and infrastructure-levy recovery. Sales and marketing are handled exclusively through Lodge Real Estate's Megan Smith & Co. team, generating 200-300 weekly enquiries since the February 2025 launch. Customer segments span first-home buyers (NZD 789,000 entry point), premium/luxury buyers (up to NZD 1,650,000), downsizers, property investors, and affordable-housing seekers served via Bridge Housing Trust's shared-equity and rent-to-own programmes. The total project is valued at NZD 3 billion and is expected to house over 5,000 residents at completion. The development is operated by a lean team of 9 within the JV, with Managing Partners Richard Coventry and Lale Ieremia leading business management alongside Perry Group Chairman Simon Perry, ONZM, and Schick Civil Construction Managing Director Pat Peoples.

Name

Te Awa Lakes

Legal name

Te Awa Lakes JV

Website

https://teawalakes.co.nz

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Te Awa Lakes is a 100-hectare master-planned mixed-use community in Horotiu, Hamilton, New Zealand, delivering up to 2,500 homes plus a Village Centre as part of a NZD 3 billion development led by Perry Group and the Te Awa Lakes JV.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Land Subdivision (2372), New Housing For-Sale Builders (236117)

SIC

Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Master-Planned Community & POA Management (BPAJAHAD)

akta.pro secondary industry

Spec Home / Production Homebuilding (Tract & Volume Builders) (IMAFABAD)

Keywords

• Master-planned communities
• Residential property development
• Greenfield housing
• Mixed-use development
• Affordable housing development

Headquarters

HQ city

Horotiu

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Residential Property Sales: Te Awa Lakes generates revenue primarily through the sale of residential properties across various housing types. Stage 1 includes terraced housing, duplexes, and premium lakefront homes. Properties are sold off-the-plans and as completed homes by GJ Gardner Homes and MTM Investments.
2. Commercial and Village Centre Leases: Revenue from commercial operators and businesses within the Village Centre, which will serve as a thriving retail and hospitality hub. The $3 billion project offers commercial and investment opportunities for operators looking to do business in the region.
3. Infrastructure Levy (IFF): $50 million of infrastructure funding provided through the Infrastructure Funding and Financing Act 2020, facilitated by NIFF. The levy is repaid gradually over 30 years by the community, reducing upfront costs for homebuyers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels9 records

Core offering

Te Awa Lakes is a 100-hectare, three-phase master-planned mixed-use residential development at Horotiu, northern Hamilton, New Zealand, delivering approximately 2,500 homes ranging from 2-bedroom terraced units to 5-bedroom premium lakefront dwellings along with a Village Centre, commercial spaces, and recreation precincts. The company sells residential properties off-the-plans and as completed homes through an exclusive partnership with Lodge Real Estate, and will earn commercial lease revenue from operators within the Village Centre. The development is differentiated by integrated stormwater lake infrastructure, all-home solar and battery storage, a 10% affordability commitment, and the first-ever use of the IFF Act levy in New Zealand to fund bulk infrastructure.

Product overview

Te Awa Lakes is a 100-hectare, three-phase master-planned mixed-use development in Horotiu, Hamilton. The product portfolio encompasses premium lakefront housing, townhouses, and apartments alongside a Village Centre with retail and hospitality offerings, commercial opportunities, and recreation precincts. Stage 1 features duplex and terraced housing at Clearwater Street, with homes ranging from 68m² two-bedroom units to 218m² five-bedroom premium dwellings. The development integrates 10% affordable housing and connects to the Waikato River, positioning it as the northern gateway to Hamilton and a tourism destination.

Differentiator

Problem solved

Functional benefit

Products and services

• Stage 1 Duplex and Terraced Housing First stage of residential development at Clearwater Street, Horotiu, featuring duplex and terraced housing options ranging from 68m² two-bedroom units (from $789,000) to 218m² five-bedroom premium dwellings ($1,650,000), all with solar panels and battery storage included.
• Premium Lakefront Housing Premium riverside and waterfront dwellings forming part of the master plan's full spectrum of housing types, with 3-bedroom units from $1,239,000 and 5-bedroom units from $1,650,000.
• Townhouses and Apartments Comfortable, well-designed townhouses and apartments positioned close to the proposed village centre and hospitality destination, offered by MTM Investments at the entrance to the subdivision.
• Commercial Opportunities / Village Centre Commercial space and business opportunities in the Village Centre, offering retail, hospitality, tourism, and recreation options for operators and investors, designed to serve the expected population of over 5,000 people.
• Affordable Housing (10% Integrated Affordability) Commitment to 10% integrated affordability within the development, delivered in partnership with housing providers including Bridge Housing Trust for shared-equity and rent-to-own programmes.

Quantifiable outcome

• $50M infrastructure funding reduces upfront home purchase costs
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Lodge Real EstatecoreChannel Partner/ Reseller/ Distributor · 1 February 2025Exclusive marketing and sales partnership with Lodge Real Estate's Megan Smith & Co team. Megan Smith handles all residential and lifestyle sales inquiries. The team has been averaging 200-300 enquiries each week since sales officially kicked off in February 2025.
• Mana Whenua Working GroupcoreStrategic or Co-development Partner · 1 May 2017Established in May 2017 with seven tangata whenua representatives who collectively share kaitiakitanga (guardianship). Representatives are involved at each stage of the development journey. Priority has been to involve mana whenua at each stage. In October 2020, a mauri stone was buried on site as rededication of the land.
• Perry Group LimitedcoreOthers · 1 January 2016Parent company and original developer behind Te Awa Lakes. In 2016, when the old Horotiu sand quarry closed, Perry Group embarked on realising their vision for Waikato's first master-planned mixed-use development. Simon Perry serves as Chairman, Richard Coventry as Managing Partner.
• Bridge Housing Charitable TrustcoreStrategic or Co-development PartnerBridge Housing Trust is delivering 22 high-quality affordable homes in Lot 2 of Te Awa Lakes. These homes are candidates for shared-equity and rent-to-own programmes. The Trust aims to deliver 100 affordable homes per year across Hamilton and Waikato. Te Awa Lakes is one of the Trust's major partners.
• GJ Gardner HomescoreStrategic or Co-development PartnerJeff DeLeeuw of GJ Gardner is currently delivering the first lakefront homes at Te Awa Lakes. GJ Gardner is constructing 79 dwellings as part of Stage 1, starting with 12 terraced houses. First homes completed and ready by January 2026. Homes designed to maximise connection with lakes, nearby amenities and foster community.
• MTM Group / MTM InvestmentscoreStrategic or Co-development PartnerMTM Group, led by Johnathon Chen, is delivering more accessible housing options at the entrance to the subdivision. Houses available for purchase off-plans in May/June 2025, with construction completion in early 2026. Located within 100 metres of the lake.
• Foster DevelopcoreStrategic or Co-development PartnerDeveloping the Village Centre as part of Stage 1. Work scheduled to commence in latter half of 2026 with plans to be unveiled shortly. The Village Centre will be a thriving retail and hospitality hub.
• Waikato River AuthorityminorStrategic or Co-development PartnerCo-governance organisation between the Crown and Waikato-Tainui to advocate for the Waikato River. Te Awa Lakes will be consistent with Te Ture Whaimana o Te Awa o Waikato (Vision & Strategy) to restore and protect the health and wellbeing of the Waikato River.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Universal Homes: NZ residential homebuilder operating across Auckland and the upper North Island. Comparable as a for-sale residential builder delivering volume and medium-density housing typologies similar to Te Awa Lakes' terrace/duplex mix.
• Winton Land: NZ-based master-planned community developer behind Long Bay and other large greenfield projects. Directly comparable to Te Awa Lakes as a large-scale NZ master-planned residential developer with multi-decade build-outs and integrated community amenities.
• Stonewood Homes: NZ residential homebuilder with national franchise network. Comparable as a NZ for-sale residential builder with similar buyer segment coverage including first-home buyers, families, and investors.
• Classic Builders: Major South Island-headquartered NZ residential homebuilder with national reach. Comparable as a for-sale residential builder serving first-home buyers through premium segments across NZ regions.
• G.J. Gardner Homes: NZ's largest homebuilder franchise network and Te Awa Lakes' primary Stage 1 builder partner (79 dwellings). Directly comparable as a national residential builder operating across NZ's main centres including Hamilton.
• Signature Homes: NZ residential homebuilder with national franchise network. Comparable as a NZ for-sale residential builder delivering homes across first-home, family, and premium segments similar to Te Awa Lakes' buyer mix.
• Fletcher Living: For-sale residential homebuilding subsidiary of Fletcher Building, one of NZ's largest homebuilders. Directly comparable to Te Awa Lakes' GJ Gardner/MTM delivery model for for-sale residential housing across NZ.
• Hobsonville Land Company: Developer of Hobsonville Point in northwest Auckland, one of NZ's largest master-planned communities. Directly comparable as a greenfield master-planned community developer with mixed housing typologies, sustainability features, and cultural integration.
• CDL Land NZ: Residential land development arm of CDL Investments New Zealand, developing large greenfield sites including Stonefields in Auckland. Comparable as a NZ residential land and community developer focused on master-planned greenfield projects.

Emerging players

• Oyster Capital: NZ property developer behind Auranga master-planned community in Drury, south Auckland. Comparable as a smaller-scale NZ master-planned greenfield developer in a similar product category to Te Awa Lakes but with materially smaller total scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/te-awa-lakes

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Te Awa Lakes