The 237 hectare mixed use development, known as Tanganani, will consist of housing units catering for the poorest of the poor, the lower end GAP market, as well as the traditional credit linked affordable housing. Depending on the final densities being approved the property has the capacity to yield in the region of 12 000 housing units
Adding value to the community, the project will also include a medical clinic, a sub-regional and community shopping centre, as well as a number of schools. A large proportion of the development will remain as public open space.
The project will be developed by SafDev Tanganani, in which Nedbank Corporate: Affordable Housing will hold a 25.1% stake and SafDev Holdings a 15% investment, with the balance being held by various investment companies.
The new housing estate, anticipated to be complete by 2014, will be situated along the William Nicol highway, approximately 6.5 kilometres north of Fourways. It is within 10 kilometres of Lanseria and the commercial and industrial areas of Kya Sands and Kyalami. It is immediately south of the William Nicol/Krugersdorp highway (N14) intersection – thus enjoying exceptional accessibility on both a local and regional level.
Manie Annandale, Head of Nedbank Corporate Property Finance’s Affordable Housing Development (Stock Creation) Unit says that Nedbank is especially proud to be associated with a development that is doing so much to reduce its carbon footprint. “Being South Africa’s ‘green bank’ means that we take particular notice of developments such as these. We are also delighted to be contributing positively to reducing the shortage of housing in South Africa, particularly in the affordable and lower end GAP housing markets.”
CEO of SafDev, Grant Wheeler, is passionate about protecting the environment and reducing his company’s carbon footprint wherever possible. “We believe that it is our responsibility as developers and global citizens to reduce our carbon impact. Not enough is being done in the initial urban and engineering designs of residential townships to ensure the lowest possible carbon footprint. If handled responsibly, this approach will ultimately result in achieving greater savings of carbon emission over the life of the project. Our goal with this approach is to reduce the carbon footprint of this development. when compared to a standard approach, by around 500kg of carbon emissions per unit. This excludes the normal electricity consumption savings achieved by using solar geysers, CFL light bulbs, etc.”
“Almost by definition this approach is going to be more expensive with very little of that extra cost recoverable from the home owners. This will require new and innovative solutions to problems previously not tackled by township developers. It was important for us to team up with a partner like Nedbank, who not only share our passion for delivery but have also made the commitment to tackle difficult issues such as those we face regarding carbon emissions. Furthermore, if the level of buy-in and co-operation from the provincial housing board in terms of the provision of subsidies and funding, as well as institutions such as the DBSA and the local authority structures is anything to go by, this project is going to be an amazing success.”
