The City of Cape Town has announced that it will release R130 million worth of property measuring approximately 9 000 square metres along New Market Street in the central business district (CBD) as part of its drive to develop more affordable housing spaces.
Also read: City invites residents to contribute to development of a CBD spatial vision
Councillor Carl Pophaim, the Mayco member for human settlements, says the City has about 6 500 social housing opportunities in the pipeline, adding that the City has already released 32 666 square metres for social housing over the past five years.
‘The City has also acquired more than 900ha of land for the City’s integrated Human Settlements Development purposes. In the first year of our Mayoral Programme for Accelerated Land Release, five inner-city land parcels with a planned total of over 1 300 housing units reached critical land release milestones. We encourage our private sector partners to join us in strengthening the social fabric of Cape Town and [improving] our neighbourhoods.’
‘We regard this as a flagship Cape Town CBD partnership project, holding the potential to develop approximately 500 well-located units, of which 200 are earmarked for subsidised social housing rental units. The release of this prime R103 million land is a testament to the focus on unlocking land for subsidised affordable housing at scale for those earning below R22 000 per month.’
‘This programme where the City is the enabler of more affordable housing in partnership with the private sector, is increasingly gaining momentum as the work we have done over the past years starts to pay off.’
‘These developments not only provide affordable housing opportunities, they also reinvigorate neighbourhoods, help to protect against gentrification and reverse the trend in urban centres so that our moderate- to lower-income residents can again be afforded well-located opportunities. Our housing developments are also catalysts for meaningful economic growth in our neighbourhoods.’
Cape {town} Etc discount: Looking for things to do in the city at half the price? Let these great offers inspire you and fuel your imagination! Get them here.
The closing date for this tender submission is 16 October 2023 at 10am.
The Social Housing Policy, which is set nationally, targets households with a gross monthly income of between R1 850 and R22 000. Accredited social housing institutions (SHIs), which are solely dependent on rental income, are in charge of managing the policy. SHIs receive no operational grants and are able to service their debt via rental income.
Explore Cape Town and its surroundings with these incredible deals on cars for under 100k. Find car listings here.
Also read:
City Council approves signing of MOA for CBD Regeneration Project
Picture: Patrick Ward / Unsplash