PHOTO: ROSS GIBLIN/STUFF Ian Cassels, director The Wellington Company, says Te Kāinga could see three commercial buildings converted into 500 apartments.
The council has officially signed a 15-year lease agreement for 195 Willis St as part of The Wellington Company’s social impact initiative, Te Kainga, which aims to provide hundreds of affordable rental apartments for CBD workers.
The pilot partnership, announced in September 2018, is understood to be the first model of its kind in the country.
Wellington City Council’s lease with The Wellington Company, signed on Monday, will see WCC’s City Housing managing the property’s tenancies for the next 15 years, separately from their social housing responsibilities.
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