Consent granted for major development in Lyttelton

People will be given another chance to invest in Collett's Corner next month for a minimum of ...
People will be given another chance to invest in Collett's Corner next month for a minimum of $120. Image: Ohu Development
Resource consent has been granted for a major commercial and residential development in Lyttelton.

Collett's Corner, a three-storey complex, is now a step closer to being built on Oxford St after Christchurch City Council approved the consent application from Ohu Development - the group behind the project.

The project is being funded by the first crowdfunding campaign under taken in New Zealand for a commercial development.

However, before work starts on the complex, Ohu Development will need to raise between $800,000 and $1.4 million in its second round of crowdfunding, which is planned to start on April 2.

The public will decide whether or not the second crowdfunding bid will go ahead on that date.

In a survey by Ohu Development, people can choose whether they think the crowdfunding campaign should continue, or should be paused until the Covid-19 outbreak is brought under control.

Camia Young. Photo: Supplied
Camia Young. Photo: Supplied
Said project steward Camia Young: "Our plan [was] to launch the equity crowdfunding campaign as soon as we were granted the resource consent.

"However, given the recent events, we are considering whether to continue or pause Collett’s Corner due to the uncertainty caused by the Covid-19 virus."

A decision will be made on March 31.

You can find and complete the Ohu Development survey here.

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