The City of Cape Town officials visited its new R93 million inner-city social housing project, Maitland Mews. The project is expected to deliver 204 affordable rental units and demonstrates what is possible when government and the private sector work together.
The City with social housing institution Madulammoho Housing Association and Calgro M3 Developers came together to provide well-located affordable social housing close to the city centre.
Funding for the project is made available through the Consolidated Capital Grant from the Social Housing Regulatory Authority (SHRA), loan finance from the National Housing Finance Corporation (NHFC), equity from Madulammoho and a discounted land price from the City to enable social housing.
According to the City of Cape Town, the development forms part of a broader precinct development comprising more than 1 000 affordable housing units.
In addition, it potentially paves the way for financing further affordable housing units on the larger site of this precinct development through a subsidy for first-time homeowners that is administered by the Western Cape Government, working with the banking sector.
When completed, the R93 million housing project will be called Maitland Mews. Ideally, situated close to public transport, schools, places of worship, a library and a police station, according to the City.
With a short walk to Koeberg and Maitland Stations, conveniently on the MyCiTi bus route and is less than seven kilometres away from Cape Town’s CBD.
Meanwhile, over the past six months, the project has progressed steadily. The City has a number of other social housing projects within the city currently under way that are progressing positively.
Furthermore, the City is committed to developing affordable housing opportunities in urban centres across the metro in an inclusive, fair and orderly manner. The City is keeping in mind that social housing developments are complex with a host of legislative requirements to adhere to before development can take place.
“We have repeatedly stated our commitment to ensuring the creation of more affordable social housing opportunities,” said the City.
The City’s Mayoral Committee Member for Human Settlements, Councillor Malusi Booi acknowledged the Madulammoho Housing Association, Calgro M3 Developments, the Western Cape Government, the Social Housing Regulatory Authority and other government and private partners.
“We make progress when we work together and we look forward to additional partnerships on this site and across the metro to help create more affordable housing opportunities,” said Booi.
How to apply for social housing?
For more information and to apply visit: www.capetown.gov.za
Picture: City of Cape Town/Facebook