The land purchase is part of his plan to keep buying land and building homes for people who are saving to get on the property ladder but need help.
He is giving $100,000 towards people’s deposits for his homes out of a $25 million giveaway from his fortune.
Since the Otago Daily Times’ story announcing Mr Fewtrell’s scheme at the end of July, queries have been rolling in asking how to apply for the houses.
He would have an application process for the houses that would require prospective buyers to have a 10% deposit, he said.
He encouraged people wanting his homes to ask parents and grandparents to chip in.
"It’s better to ask for help while they are alive rather than wait until they drop dead."
He acknowledged it might be "tough" deciding who would get his homes if he was inundated with customers and they had differing life circumstances.
"I’m trying to help people in the middle who are trying to help themselves ... but in the end we are going to have to play God, I guess.
"I wish a few more people were doing something like it really, but there you go."
He hoped to build 250 homes and had so far bought enough land to build 150, including three on the Baldwin St land and 24 on land in Helensburgh, Mr Fewtrell said.
A dozen duplex units were being built in Kaikorai Valley and should be ready within nine months.
Land he bought in North East Valley behind Ross Home would have street infrastructure in place next year.
It would take another year for 18 houses to be built there. — Additional reporting by Pippi Miller.
