New housing complex in Walmer

Posted On Tuesday, 13 December 2016 17:56 Published by
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New R100m housing project in Walmer with at least 120 units and offering investment opportunities will address a rental accommodation shortage.


A New R100-million housing project in Walmer with at least 120 units and offering investment opportunities will, according to developers, address a rental accommodation shortage in Port Elizabeth.

With construction set to start next month, the complex in Villiers Road, between Third and Fourth avenues, will be aimed at people just starting out.

Property developer Russell Dakin, of Dakin Developments, said the complex would offer upmarket yet affordable rental opportunities.

The still unnamed apartment complex set on 8000m² of land will offer 50m² units at between R5000 and R5500 a month, with an annual income of R5-million.

There are interesting open- space areas designed, including a small forest area with a proposed water feature using captured storm water runoff, Dakin said.

Dakin Developments is responsible for contemporary housing units like Quay One in South End, The Knysna apartment block in First Avenue, Walmer, and Fenton Place in Fenton Road, Walmer.

Construction of the Villiers Road development would start once plans had been rubber stamped by the municipality, Dakin said.

The building would be completed within a year, he said.

It is an awkward time of year [but] we have a fast building design “ [the] processes are far faster and we should have everything completed within 12 months.

Five houses were demolished to make way for the new complex and large heaps of sand now occupy the vacant land next to the Dutch Reformed church in Villiers Road, which Dakin said was being used to level out the ground before further construction could take place.

This is a good development, zoning is all in place and we have all the necessary documents filled in, he said.

Nelson Mandela Bay Municipality human settlements acting executive director Luthando Mabhoza confirmed that a site development plan had been approved on August 20 and approval from the Heritage Resources Agency was received for the demolition of the five houses.

The property is zoned Residential 3C, which permits the development of dwelling units, residential building and guesthouse, Mabhoza said.

The municipal spatial vision contained in the Walmer Local Spatial Development Framework earmarks the properties for medium density development of up to 80 dwelling units per hectare.

The use rights and development parameters applicable to the property are in line with the spatial vision of the municipality.

Further applications regarding the development parameters were still to be tabled to the municipality decision- making structures before further development and construction could take place, Mabhoza said.

source: Herald

Last modified on Wednesday, 14 December 2016 11:26

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