The first three of 84 inner-city buildings set for development were visited by the City of Joburg’s executive mayor, Clr Herman Mashaba, and others on Thursday.
Mashaba was joined by MMCs for economic development and development planning and the city manager on a walkabout tour of the three buildings.
“Rejuvenating the inner city through the provision of quality low-cost accommodation for our residents is a long-standing quest to help us address a housing list backlog that easily exceeds 300 000 units,” said Mashaba.
It is estimated that the CoJ’s inward migration is set at about 3 000 people per month, which puts greater pressure on the city to deliver services efficiently.
Mashaba said in October 2017 a tender was advertised to the public, availing 13 properties in various areas of the inner city.
“The response received from developers was encouraging at the briefing session, the acquisition of the tender documents and the submissions. In addition to this, between 80 and 100 buildings will be released this year with a potential of just over 500 buildings that can change Johannesburg’s skyline.”
“This process has culminated in the awarding of Vannin Court and Beaconsfield Court, and vacant land at 82 Gwigwi Mwrebi Street, Newtown, to EGC Properties and Johannesburg Housing Company, respectively,” said Mashaba.
He said the developers committed a proposed total investment of just over R204-million.
Both Hillbrow properties and their associated buildings earmarked for refurbishment are expected to be completed in the next 12 months, availing 384 units.
The mayor predicted that the three projects will also create around 900 jobs during construction.
“The developments cater for mixed-use purposes. The majority of the completed 384 units will see a maximum rental of R900 per unit per month, excluding municipal services.”
Mashaba encouraged other developers to submit their tenders by February 28 this year to be considered for the remaining 81 properties that will also be available.
The properties that are available for tender are shown in the prospectus, which can be downloaded from www.jhbproperty.co.za
Tender documents can also be downloaded from this site at no cost.
