Preferred developer selected for Madras Residential site.

Ōtākaro Limited has selected the Ōtautahi Urban Guild as the preferred developer for the 8000m2 Madras Residential site in central Christchurch.

“We believe the Ōtautahi Urban Guild’s plan for a 150-home co-housing development with a focus on sustainability and communal spaces is innovative and will broaden the appeal of living in the central city,” says Ōtākaro Limited Chief Executive, John Bridgman.

The Ōtautahi Urban Guild is a joint venture between Ohu, Viva, Urban Apostles, and Matapopore.

Guild spokesperson, James Stewart says the development will have a focus on building a community in the central city with homes at an affordable price point.

“These developments will be delivered at cost, aiming for 10-20% below comparable homes on the market. We plan a collaborative project with potential residents and the Guild involved in the development of the design and fitout of their home. Our focus will be on utilising sustainable and carbon neutral materials that reduce both the upfront and ongoing cost of the home.”

“This will be an exciting place to live with many shared facilities such as community-owned solar, an embedded energy network, bike and car sharing facilities planned in the development.”

The Ōtautahi Urban Guild will begin marketing the development in the new year, with the aim of signing up prospective home owners.

ENDS

© Scoop Media