The Cape Town housing project has commenced as part of the region’s human settlements development effort. The Public Works and Infrastructure Minister Patricia De Lille announced that the government has proven how a partnership between the government and the business sector may improve people’s lives while simultaneously boosting the economy.
On Thursday, she paid a visit to the project as part of a countrywide oversight tour of integrated infrastructure projects.
BlueBuck Projects is transforming the Maitland Metro Area into a thriving mixed-income, mixed-use community, focusing on affordable and integrated housing. This rehabilitation project intends to build at least 1200 residential units in the node’s core position.
According to the minister, infrastructure projects are important for the country’s growth and job creation. The minister also disclosed that the private sector was working on many large projects while the government was working on various infrastructure projects around the country.
The Cape Town housing project will see the construction of at least 5000sqm of call centre space. The flats in the first project will rent for between R5 000 and R7 500 per month, while semi-furnished rooms in co-living apartments will cost R3 800.
Construction began in November 2020, and the first phase of rental apartments is on pace. The hotel is located around 7 kilometres from the city’s major business centre and other commercial districts. There are also several modes of public transit available.
The project is estimated to cost at least R1.2 billion, with R178 million already spent.
The development includes nine new mixed-use projects. The project estimates at least 1200 new residential units. These will combine the open rental market, FLISP purchasers, and social housing renters aimed at low- and middle-income families.
Maitland Metro aims to be a model redevelopment project that may be replicated in other metropolitan regions. As a result, it would connect low and middle-income residents to work possibilities in Cape Town.
Source: Construction Review Online