Property developers and entrepreneurs recently got together for the first-ever inner-city property conference in Braamfontein this week.
The one-day conference was organised by Tuhf, an institution that provides access to finance for purchasing, converting or refurbishing buildings in the inner cities of South Africa.
It has a large residential property portfolio in the inner city.
This conference brought together property industry players from the public and private sectors, development agencies, listed property funds, property managers and brokers.
The City said the conference created a platform for sharing thought leadership between various stakeholders including the City’s representatives to activate growth and investment opportunities with the focus on affordable accommodations and rejuvenation of the inner city.
Tuhf’s CEO Paul Jackson said it was committed to the inner-city development and it was looking forward to partnering with the City.
“As a business, we need to find a way to work together with government. None of us can run a successful business in an unsuccessful country. We need to go back to the basics.”
MMC for Development Planning Reuben Masango said, “The City has committed to fast-tracking applications of projects linked to the rejuvenation of the inner city.
“To date, we have been greatly successful as many properties have been returned to their rightful owners. Hijacking kingpins have been arrested and successfully prosecuted and more buildings are to be released for development.”
Lukhona Mnguni, a political commentator and researcher from the University of KwaZulu-Natal, said it was time for the government to start thinking about developing new cities.
“We must imagine and start thinking about building new cities. We need new cities because there is already overcrowding in the cities.
“No new city has been built post 1994. This results in strain on the existing infrastructure as there is an influx of people moving to the cities. Developers should become part of this transformation agenda.
” Mnguni cautioned about any sort of major developments carried out both by the government and private sector without being informed by in-depth research. “The City cannot force developers to do something without giving back incentives.”
In August the City of Johannesburg launched the prospectus of 71 properties that have been released to the private sector for development, hoping to see cranes operating in the inner city soon.
These buildings are in addition to the 13 other properties which were made available late last year for the purpose of creating affordable housing.
Executive Mayor Herman Mashaba called it a historic moment, ‘because in bringing this plan to life, residents of this City will enjoy the benefits of service delivery that speaks to their needs’.
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