The Government has announced a new housing project in Christchurch for almost 200 new homes in the central city.
An artist's impression of the development. Photo: Supplied
The 191 homes will be built by Fletcher Residential on land which the Government purchased from the Christchurch City Council, with Fletchers only paying for the land when the homes sell.
Fletchers will only pay for the land when the homes sell.
Nick Smith, Christchurch deputy Mayor Vicki Buck and Fletcher Living general manager Ken Lotu-Iiga at the announcement. Photo: RNZ / Rachel Graham
Minister for Building and Housing Nick Smith said the homes would be ready to be occupied by the beginning of 2017.
"This is about, not just increasing the supply of housing, but specifically ensuring at least 20 percent is in the affordable range - under $450,000.
"And most importantly for Christchurch actually getting new housing development in the central city to get people back and life back into the CBD of Christchurch."
Dr Smith said the project was part of a housing accord with the Christchurch City Council, which now involved 1000 homes being built.
Other homes being built as part of the Housing Accord will be in the surburbs of Wigram and Yaldhurst.