Canterbury Mornings

A plan to build homes on a Crown site in central Christchurch to encourage community-led development has collapsed after being loaned money by the city council.The Madras Square housing village was intended as a non-profit project opposite Latimer Square.The land was bought by the Crown for an alternative housing scheme, an anchor project known as the demonstration village, as part of the Government’s post-earthquake blueprint for the city.It received a $450,000 loan from the city council for the project on crown-owned land - but withdrew its recent application to borrow another $2.8 millionCrown-owned company Ōtākaro was holding the land for the guild - while it explored the market and sought fundingChief Executive John Bridgman told Chris Lynch they're now quickly looking to sell the site.LISTEN ABOVE