South Africa’s first fully integrated, mixed-income, mixed-use development, located near Cape Town’s CBD, has been launched for sale to the public.
The new multi-billion rand development will change the old Conradie Hospital site in Pinelands, which covers 22 hectares.
The development comprises over 3,500 homes – some subsidised or grant funded, while the remainder are for sale on the open market from about R950,000 including transfer costs.
Phase one, comprising 99 units and called Kirstenbosch, has been launched with the public keen to be part of a “connected, multi-cultural community, marked by affordability, sustainability and security,” said founder of Realtor of Excellence, Toni Enderli.
Occupation is set for early 2021 while phase two will launch soon.
The project is a partnership between developers, Concor, and the Western Cape Government which describes it as one of seven provincial “game changers” aimed at providing affordable housing close to jobs while redressing apartheid-era spatial challenges.
Located near main arterial routes and the Mutual and Thornton railway stations, the project includes a long-term transport master plan, potential new MyCity routes and significant road upgrades, the developers said.
The R3 billion project aims to stimulate small business growth by providing 10,000 sqm of retail and, initially, 14,500 sqm of commercial space – all designed by architects dhk and Jakupa.
Over 2,000 jobs will be created during the construction phase, the developers said.
The campus includes two schools, various creches, a business hotel, an urban gym and extensive pet-friendly parks. Foot and cycling paths are part of an integrated non-motorised transport plan while green technology has been applied to energy, water and waste management.
The development is expected to be built over the next five to seven years and will feature:
- Up to 350,000 square metres;
- Phase 1 maximum Floor Space of 128,100 square metres;
- Phase 2 maximum Floor Space 121,000 square metres;
- Maximum of 3,605 Units: 49% subsidised rental and ownership + 51% open market. Grant funded housing must comprise: 70% Social Housing; and maximum of 10% Rent-to-buy with the balance comprising Finance Linked Individual Subsidy Programme (FLISP);
- Retail space of ±10,000 square metres;
- Commercial space of ±15,000 square metres;
- Minimum 0.5 parking bays per residential unit, and 4 bays per 100 square metres for retail and office uses. Up to 90% of retail and office bays may be shared with residential.
Source: businesstech
