Johannesburg executive mayor Clr Herman Mashaba, welcomed about 200 key property players at the council chamber on August 14 to share the vision of his legacy project of rejuvenating the inner city.
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“Show us the money. Don’t show us a bucket of paint and a brush. We need to know if you have got the money to develop these buildings. Demonstrate how many job opportunities will be generated during the construction and management phases,” he said.
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Mashaba told property investors and financiers that the city will release 71 inner-city properties to the private sector to be consolidated into business spaces, student accommodation, and low-cost housing units.
This is in addition to 13 buildings that had already been offered to the private sector earlier.
“You don’t have to invest a cent upfront for the buildings, so already you’re ahead of the guys in Sandton, as long as you can meet our requirements,” said Mashaba.
He also promised that the city would release 50 to 100 buildings annually for development for mixed-use, low-income commercial and residential properties in the inner city.
The city identified about 500 buildings that are either hijacked or abandoned and it is in these properties that we will house our people at affordable monthly rates of between R800 and R1 000.
“We want to bring work closer to home. People shouldn’t have to travel 80 kilometres to get to work, or see their children once a month due to lack of low-cost accommodation and affordability, they should have a choice,” said Mashaba.
The requirements that investors, who will know by November 30 if they have been granted 50-year leases, include that they have a clean credit record with the municipality in their personal and corporate capacities, must train young residents of Joburg as artisans, and offer affordable family and student accommodation.
The City of Joburg Property Company has advertised the properties on a tender for developers to partner with the city around Johannesburg Park Station, Braamfontein, Yeoville/Berea North, Hillbrow/Berea South, Marshalltown, Pageview and Vrededorp, Jeppestown, Wolhuter and Fairview, Turffontein, City and Suburban and Salisbury.
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•Information obtained from www.joburg.org.za
