CCC adds to social housing stock with $2m purchase
Media statement 25 October 2002 1 page
Chch City Council adds to social housing stock with $2m purchase
Christchurch City Council is adding to its social housing stock with the purchase for $1.98 million of a large block of single bedroom flats in St Albans.
The complex of 18 units, at 86-90 Bristol Street, will be available to elderly residents who fit the Council’s criteria for assistance. It is expected the first tenants will be moving in before Christmas.
Aside from the Government, the CCC is the country’s largest provider of low-cost housing, with more than 2600 tenants in 113 housing complexes around the city. Its City Housing operation pays its own way, requiring no money from city ratepayers.
The money to pay for the Bristol St block will come from the Housing Development Fund. Each of the new units, which include a single internal garage, is likely to rent for $110 a week.
Councillor Carole Anderton, who chairs the Council’s Housing Subcommittee, says the Bristol Street purchase is an excellent addition to City Housing’s stock.
“This is a great deal,” she says. “The complex is close to shops and other services, and it’s in an area of the city where there’s demand,” she says. “As well, we’re getting these 18 units at a price that’s below replacement value.”
“This will immediately change the lives of at least 18 older people and it underlines the Council’s commitment to meeting the need for affordable housing throughout the city.”