Inner-citz1

On Wednesday, 21 August 2019, the City of Johannesburg’s Executive Mayor, Cllr Herman Mashaba, along with the MMC for Economic Development, Cllr Leah Knott; MMC for Development Planning, Cllr Reuben Masango; and MMC for Environment and Infrastructure Services, Cllr Nico de Jager joined Johannesburg Property Company (JPC) MD, Helen Botes at sod-turning ceremonies of the first four of 84 properties earmarked for redevelopment.

The officials were welcomed by the four awarded developers at their respective sites –  JM Corporate Real Estate Solutions and Ryden JV in Doornfontein; Nthwese Development in Marshalltown; Izicwe Consulting Services in Vrededorp; and Bayete Capital (Pty) Ltd in Yeoville.

These ground-breaking ceremonies follow a rigorous tender process to secure successful bids which will advance the City’s aims of not only revitalising the inner-city but also bringing quality affordable housing to our residents and students.

Mayor Mashaba said: “These 84 properties hold an investment value of R22 billion and are expected to generate 11, 000 direct construction sector jobs, at a time when the economy is struggling to generate employment for our residents.”

The inner-city revitalisation project is expected to yield approximately 6, 500 units of affordable quality housing with rentals beginning from R900 per month.

The sod-turning ceremonies marked the realisation of Mayor Mashaba’s vision of turning the inner-city into a construction site, by taking available land parcels and partnering with the private sector to address the affordable and student housing challenge that has resulted in a backlog in excess of 300,000 units in Johannesburg.

He added: “What is particularly exciting for me as the Executive Mayor of Johannesburg is the realisation of a dream I had at the beginning of my tenure just under three years ago – the dream of turning the inner-city into a construction site. We had 154 buildings out on tender – 84 of which have already been awarded. We have another 70 set to be awarded by the end of September. It will create over 12,000 jobs during construction, but importantly housing solutions to address our housing backlog.”

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