What started with the purchase of a property which consisted of dilapidated hostel type accommodation in 2014 has resulted in this landmark development, being one of the largest mixed use residential and school developments located along the Corridors of Freedom.
MMC Masango stated that ‘We are happy as a City to be associated with such a development that embraces the vision and spatial planning of the City, that creates an environment where residents can live and play in close proximity to job opportunities’.
Africrest has developed rental apartments, whose finishes and facilities mirror those of Sandton luxury apartments at a fraction of the price and only 2km from Melrose Arch and 800m from the Louis Botha Av. Rea Vaya Station.
“We have already completed phase one of The Village which consists of 240 apartments and by the end of phase two the total development will have 530 apartments.” commented Grant Friedman and Greg Blend of Africrest.
Africrest is currently developing three other sites around Johannesburg and by June 2019 will have developed 800 apartments, by December 2020 Africrest will have a portfolio of at least 2,000 apartments. This is in addition to their growing commercial property portfolio.
Africrest’s developments has provided employment for over 500 construction workers.
The company’s’ developments consists of one and two bedroom apartments and rentals range from R3,500 to R8,000 per month.
Africrest is committed to developing within the city’s urban design framework. Liana Strydom, the of City Johannesburg’s Transformation and Special Planning Department thanked Africrest “for being a developer that is building a better City”.
