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

Africrest Roars Proud With Its Latest Office To Residential Conversion - ‘The Leo’

Apr 29, 2019
 THE LEO
This month, Africrest Properties opened their latest residential conversion project up…

John Rabie launches European development company with R1,4b project in Lisbon

Apr 29, 2019
 JOHN RABIE
John Rabie, one of South Africa’s most successful property developers, has recently…

Request for Proposals for the Lease and Development of Properties

Apr 29, 2019
PRASA hereby invites proposals from potential tenants to lease and develop/upgrade…

Concor building hands over city-sytle Maluti Crescent

Apr 29, 2019
 MALUTI PIC 01
Within the 13 month timeframe and in time for its official opening on 21 March 2019,…

Abland launches The Rubik in Cape Town CBD

Apr 29, 2019
 THE RUBIK 1
Abland, one of South Africa’s leading property developers for over 30 years, is…

Please publish modules in offcanvas position.