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

Park Square leads the way for future forward work spaces

May 20, 2018
Outdoor piazza
Rapid technological advancements have gifted people with the ability to redefine their…

Kzn's time to shine

Jun 02, 2018
ideal holiday  kzn
South Africa’s eastern province of KwaZulu-Natal, with its diverse culture, year-long…

New BEE code creates opportunities for construction companies

May 23, 2018
Kwakho Mpepho
The gazetting of an amended Code of Good Practice on Broad-Based Black Economic…

Attacq Limited converts to a Reit

Jun 02, 2018
Attacq singles
Attacq Limited, (“Attacq”), the JSE listed property company, announced its conversion to…

Vukile delivers 7.7% full-year distribution growth with strong performance from its SA retail portfolio and its major expansion into Spain

Jun 02, 2018
Laurence Rapp
Vukile Property Fund today reported 7.7% growth in dividends to 168.82 cents per share…

Please publish modules in offcanvas position.