Ōtākaro Limited is delivering Crown-led Anchor Projects in central Christchurch and divesting the balance of Crown land. The Company will accelerate work on the Anchor Projects by working in a commercial and transparent manner, enabled through its structure as a Crown Company.
Dual objectives
Ōtākaro is required to add value to Anchor Projects and Crown Land in a way that balances a desire to achieve good commercial outcomes with the Crown's regeneration objectives. These dual objectives mean Ōtākaro will be sensible with Crown funds and mindful that there is just one opportunity to ‘get the rebuild right’ in Christchurch. For example, when Ōtākaro is divesting a piece of Crown land that is not required for an Anchor Project, it will seek to sell that land to a developer with intentions that complement the regeneration objectives for that Precinct.
Background
The Canterbury earthquakes provided an unprecedented opportunity to rethink, revitalise and renew central Christchurch. Following public consultation and advice, Christchurch City Council, the Crown and Ngai Tahu produced the Central Christchurch Recovery Plan (CCRP) in July 2012. The CCRP outlined the regeneration vision of creating a thriving heart of an international city. The plan defines a more compact and deliberately structured central city, that will be more attractive to residents, businesses and visitors. The CCRP defines the Blueprint Plan – the framework for the rebuilt city. It outlines key Anchor Projects and Precincts for central Christchurch that will stimulate further development, and optimise confidence and the city's regeneration.
Each Anchor Project and Precinct being delivered by Ōtākaro is outlined in the CCRP.
The name Ōtākaro
The Ōtākaro (or Avon) River was, historically, a place of safety and sustenance, where families would gather while fathers hunted. The Company is honoured to have the blessing of Ngāi Tūāhuriri (the indigenous people of Christchurch), to use the name Ōtākaro. This holds great significance for the Company as it reflects the shared commitment of the Crown and the Rūnanga in terms of the future development of Christchurch.
The pronunciation is – oar tar car raw (with the emphasis on the ‘t’ and a soft final syllable).