Housing in Southern Africa September 2015

News

New rental units in Hangberg Construction of the new Community Residential Units (CRUs) in Hangberg, Cape Town, is nearing completion.

W ork started in February 2014 with the blasting of giant boulders on site before con- struction could begin.The first phase includes three multi-storey apart- ment blocks comprising 71 units, at a cost of R31 million. The one and two bedroom rental units offer sea views and are in close proximity to employment opportu- nities, key transport routes, social amenities and schools in the sur- rounding area. “The project will provide safe, liv- ing space for Hangberg residents and D urban is characterised by its eclectic mix of people, cul- tures and lifestyles, and this atmosphere of diversity is particularly evident in the heart of the Durban’s central business district The city centre is only now begin- ning tomakes strides to recover from serious urban decay. “Durban’s CBD suffered as up- market shops and offices started relocating to more attractive shop- ping precincts and office parks in outlying suburbs. With street trading out of control and traffic congestion, the formal retail and investor sector

theft, but we are really proud of what we have achieved so far.” She says, “Hangberg remains a top priority for the City and we will do everything in our power to increase service delivery in this area. We have towork together to ensure a better life for our residents in Hangberg and others residing in the greater Hout Bay area. We will do all that we can, to assist with the safety and security,” said vanMinnen.

provide subsidised rental stock for qualifying beneficiaries. The project includes children’s play areas and a landscaped environment,” says City of Cape Town Mayoral Committee Member for Human Settlements, Benedicta van Minnen. “Without the support from the community, we would not have been able to make much progress. There were delays due to vandalism and

Durban city centre

began to bear the brunt of the drop in economic turnover in the city centre,” says Craig Allsoppof the Raw- son Property Group, Durban. However, a real effort has been made to revitalise the city centre, and projects like theWest Street pilot project, Warwick Junction and The Point development, offer creative solutions to improve the aesthetic appeal of the CBD, its functionality and is user-friendly. According to Allsopp, this rejuve- nation includes tax incentives that have already increased demand for property and investor confidence.

This bodes well not only for the CBD proper, but also its surrounding ar- eas. Allsopp acknowledges, “Savvy investors and first-time buyers are snapping up budget buys.” CBD properties sell from R100 000 upwards. With new life being injected into the city there is unlikely to be a shortage of tenants any time soon. All predictions point to the fact that the rejuvenation of Durban’s CBD will breathe life and vigour into more than just the city centre. Investors would be advised to explore com- mercial and residential opportunities and to take advantage of growth. ■

September 2015