The new, non-profit provider will manage the Council’s approximately 2,200 open social housing units and help to access extra revenue for the service via the Government’s Income-Related Rent Subsidy (IRRS).
The Council will hold up to a 49 per cent share in the CHP, while the remaining share will be made up of third-party stakeholders selected after the tendering process ends on 28 April.
The Council will retain full ownership of its social housing under the new structure.
Read the full Christchurch City Council press release here.
