SOUTH HILLS – Pouring rain didn’t deter the launch of a mixed residential development by City of Johannesburg (CoJ) led by Johannesburg Executive Mayor, Cllr Parks Tau and MMC for Housing Cllr Dan Bovu in South Hills on Tuesday November 11.
The project is undertaken in partnership with Standard Bank and Calgro M3. They will build 5 327 housing units in South Hills precinct to reduce the housing backlog of the inner city and surrounding areas in line with the City’s Housing Policy of Breaking New Grounds.
The 199 hectare South Hills housing initiative which will be developed will provide different typologies of housing such as fully subsidised units, social housing, rental, GAP and affordable housing bands over the next five years.
“The City of Johannesburg has a long standing relationship with Standard Bank and the fact that we have been able to partner with them and Calgro M3 to develop the South Hills project, is a testament to the potential that the public private partnerships have to unlock value in the city’s property landscape.
“This project is about driving transformation and looking at closer integration across the different historic communities, ultimately for the benefit of the residents who reside in these parts of the city,” explained Cllr Tau.
The City issued a proposal call to the major banks in keeping with a policy of encouraging the large financial institutions to play a role in housing developments of this nature, and Standard Bank was awarded the project.
South Hills is estimated to have a value in excess of R1,95 billion and will take five to six years to complete. The CoJ will invest R750 million in the form of grants and subsidies into the project between now and 2020, the development’s scheduled completion date.
This project will see approximately half of the 199 hectare precinct transformed into a modern, residential district comprising 2 242 fully subsidised Breaking New Grounds (BNG) units; 1 560 social, Finance Linked Individual Subsidy Programme (FLISP) and GAP-housing units and 1 525 freehold affordable housing units.
Kenny Fihla, Global Head of Client Coverage at Standard Bank, said: “This development is an excellent example of how banks can partner with municipalities and developers to provide more affordable housing opportunities in residential neighbourhoods closer to the inner city.
“We believe this project will go a long way towards enhancing the CoJ’s ongoing efforts to change the face of the suburban living spaces to the south of the city centre.”
Derek Steyn, executive Director of Calgro M3, noted: “This development will not only provide modern and affordable housing stock for residents living south of the CBD, but will also help reduce their transport costs to and from work.”
Ward 57 Cllr Faeeza Chame welcomed the initiative by CoJ. “I am quite glad about this project especially coming to my area. Though I came late to be involved I will run with it up to the end. I will also take up on the statement made by Cllr Bovu about everyone benefiting in this project, especially coloureds, Indians and whites. I will make sure the right allocations of houses occur for people on the waiting list. Mayor Parks Tau also mentioned the Corridors of Freedom; this is going to help our residents especially in transport as it is six kilometres from CBD.
“Though this is a great project, I think security needs to be beefed up, Moffatview Police Station needs and urgent revamp. I was also disappointed as the ward councillor because I was not included in the day’s programme, it was one-sided speech,” she said.
The South Hills project will provide housing for individuals or families earning from R0 to in excess of R15 000 per month, offering a housing solution according to need and financial capacity.
