R2bn project will address affordable housing and student housing needs

Posted On Tuesday, 05 September 2017 08:42 Published by
Rate this item
(0 votes)

Human Settlements Minister  Bonginkosi Madikizela launched the  R1.8 billion Belhar CBD housing project, during a sod turning ceremony.

Belle_Vue_Affordable_Housing

“During the Fees Must Fall campaign the issue of students’ accommodation was raised sharply and this project will address that by providing over 500 student units. We know it is not much but it will be something,” said Madikizela.

Another ground-breaking innovation in this housing project is the offering of sectional titles to the Breaking New Ground (BNG) beneficiaries. These are people who earn up to R3 500 and would traditionally get free houses.

According to Minister Madikizela, offering free houses all the time is not a permanent solution. There are about 500 000 people who can afford to pay for their houses but earn too little to qualify for a bond, or too much to qualify for a free house.

“We cannot ignore these people because in order to work effectively and efficiently as the government, we need to have revenue and that is what this ‘working class’ is able to assist with,” said Mr Madikizela.

Other housing opportunities that will be available in the Belhar CBD project include:

  • Low to middle income for rental
  • Finance-linked 
  • Military veterans
  • High-end open market units for sale

Public amenities in close proximity to this residential area include two universities, public transport and shopping centres.

The first phase of this project has been completed. It consists of over 600 units.

Last modified on Saturday, 09 September 2017 14:19

Most Popular

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
 BRONWNY CORBETT
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
 JOHN WHALL
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.