Tuesday, 05 September 2017 08:42

R2bn project will address affordable housing and student housing needs

Written 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

How smart corporates are maximising returns by consolidating their property footprint

Sep 01, 2017
Amrod
For businesses that are seeking to be more efficient and productive, consolidating…

JSE listed Rebosis Property Fund announces R917 million B-BBEE transaction

Sep 01, 2017
Andile Mazwai COO Rebosis
Rebosis Property Fund, the JSE’s first listed black-managed and significantly black owned…

Growthpoint Properties posts forecast-beating distribution growth and achieves key strategic successes

Aug 31, 2017
Growthpoint Norbert Sasse
Growthpoint Properties today posted distribution growth of 6.9% per share for its…

Energy saving technologies will help consumers prepare for massive electricity price hikes in 2018

Sep 06, 2017
Cala van der Westhuizen
The latest ruling by the Constitutional Court, allowing Eskom to retrospectively ask the…

The Property Practitioners Bill set to transform the entire property market

Sep 19, 2017
Storme Heath CAF2
Gazetted in March 2017 for comment, the long-awaited Property Practitioners Bill is…