There are 11 rooms that also fall within the definition of a "residential unit" and a "multi-unit residential complex".
Building work proposed includes reconfiguring and modernising the kitchen, dining and lounge areas.
Residents were concerned that there was no guarantee that the applicant would only attract the targeted 25-45-age working people or post-graduate students.
They questioned the ability of one on-site manager to manage 75 tenants.
An urban designer for Greg Nell claimed the proposal will result in more social activity and that "would have positive benefits from a passive surveillance, and crime prevention through environmental design perspective".
"Additional cars on the street would be both space efficient and can help create a vibrant street, where neighbours have the opportunity to see and meet other people."
The panel took into consideration the Christchurch District Plan, which "promotes an increased and diversified housing stock".
The hearings panel granted the application, stating the boarding house shall not be occupied by more than 73 tenants, including a minimum of one resident on-site manager