Inner city improvements continue apace in New Doornfontein on the east side of central Johannesburg where Amdec Property Development in joint venture with AFHCO (Affordable Housing Company) recently completed a further successful development for the node, following the highly successful 120 End Street and Khan Corner developments.
Frank & Hirsch, this latest office-to-residential conversion, is situated at 352 Bree Street, in the heart of what has fast transformed into a bustling urban residential community.
Like its predecessors, the Frank & Hirsch development aims to provide a secure, convenient and quality lifestyle for residents. The location is also in close proximity to Noord Street taxi rank and BRT routes, as well as the busy 120 End Street Mall.
Named after the headquarters of its previous corporate inhabitants, the development offers a mix of 350 affordable rental-housing units, as well as a ground-floor retail section of which all premises are already fully let.
The residential units, now available to let from R1 750,00, are thoughtfully configured, offering modern conveniences and fittings. Each boasts a built-in bathroom and kitchen (the latter with granite tops), DSTV connectivity and prepaid electricity units. Hot water is supplied by means of a heat pump, negating the need for individual geysers and significantly reducing electricity costs.
The façade of the building has also been freshly transformed, with many units featuring French doors that reveal expansive views over neighbouring End Street Park - a vital public recreational space that recently enjoyed remarkable upgrade and clean-up operations.
In order to ultimately provide a ‘new vision’ for the previously derelict area, Afhco and Amdec, as part of a further joint venture with City Parks, fund all expenditure relating to management and upkeep of the park - now a safe, secure playground space, including two floodlit soccer fields and monitored by onsite security.
Previously the nearby conversion of the 26-storey, former office building at 120 End Street, into 924 affordable apartments was the country’s largest project of its kind. It also comprises a 7000m² retail component with Shoprite as anchor tenant. Khan Corner, a separate development situated 100m away from this, was completed in the first quarter of 2013 and comprises 107 bachelor and one-bedroom residential units
It may come as a surprise that Amdec, the company responsible for some of the most affluent developments in South Africa, and owner of the high-profile mixed-use Melrose Arch precinct in Johannesburg, is one of the partners behind this new affordable housing hub. Amdec’s latest Melrose Arch development is the striking R560-million head office for WorleyParsons TWP due for completion in March 2014. The company firmly believes, however, that affordable housing represents the vital gap in the market between subsidised housing and middle-income housing.
“There is a dire need for quality affordable housing and dignified living spaces. The population is growing, cities are expanding and the demand for accommodation is growing every year,” says James Wilson, CEO of Amdec.
“The convergence of South African society has resulted in a burgeoning middle class who no longer wish to travel far to reach places of work, schooland leisure,” continues Wilson. “Improved access to transport systems and close proximity to retail developments as well as educationaland recreational facilities are key factors.”
“The needs of the affordable housing market are the same as their more affluent counterparts and we feel the need to meet these on the appropriate economic scale. For us, it’s about helping to create environments today that inspire tomorrow’s lifestyles,” he concludes.
