$480 million proposal for Christchurch red zone land

The project is called the Ōtākaro Avon River Corridor. Photo / Supplied

A development company wants to get a $480 million proposal off the ground on a large block of Christchurch red zone land.

The Ōtākaro Regeneration Company has approached the Christchurch City Council to lease 135 hectares in partnership with businesses, iwi and operators.

It is the brainchild of Rob Kerr who was general manager of the red zone at the since-disestablished rebuild agency Regenerate Christchurch.

He said the company has funding from Australasian investors and won't need money from the council.

Over seven years it would introduce 28 different projects aimed at connecting people and nature.

They would include water sports, an eco-tourism experience, an indoor bike park, cultural events, tiny houses and a camping ground.

"It has the potential to accommodate a community-driven, science-informed, living memorial to rejuvenate and nurture the long-term environment," a spokesperson for the business said.