R1 billion Avoca node development to span 15 years

THE Avoca landscape is set for a major change with the Brickworks development in the Avoca Development Node, a 350 hectare area with the potential capital investment of R10bn. The eThekwini Municipality signed a historic agreement with Main Street 57 to incentivise the Brickworks development on Wednesday, 23 September. 

Over R1billion in infrastructure development will be spent over 15 years as Investec Property develops this site in three phases of approximately 30 hectares in each phase.

Investec Property Joint Chief Executive David Rosmarin said: “The Brickworks Development will further strengthen and enhance this role while stimulating regional economic development. Investec Property are proud to be a part of this unique development and we thank Mayor Cllr Mxolisi Kaunda and City officials who contributed in bringing this project to fruition.”

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Deputy Mayor of eThekwini, Cllr Belinda Scott said the Brickworks development will reduce unemployment.

“An estimated 23,000 construction jobs and 13,500 permanent jobs could be created. The location of the Brickworks development, along with the other developments in the Avoca Node, such as Caneridge and Rohill (Northfields), will create much needed employment opportunities for the surrounding communities like the Mt Moriah, Duffs Road, Inanda and KwaMashu residential areas. It is one of the few remaining large infill sites in the area,” she said.

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Investec Property have committed to ensure all contractors create opportunities for local enterprises. This to ensure that the Brickworks development contributes meaningfully towards job creation and socio-economic transformation.

“As part of the city’s strategy to create a conducive environment for investment, it offers a substantial rates rebate to investors and developers. This forms part of City’s Rates Policy and Economic Development Incentive Policy (EDIP) that aids investment in our city that contributes to job creation,” said Scott.

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