Project in­cludes homes for low-in­come buy­ers

Weekend Argus (Saturday Edition) - - PROPERTY -

SIX three- bed­roomed homes were built ear­lier this year for low-in­come earn­ers in West­lake Vil­lage by Nieuwe Steen­berg De­vel­op­ment Com­pany, a joint ven­ture be­tween Warner Projects, Land Eq­uity and Sasfin Bank.

“The re­zon­ing of the land upon which the se­cu­rity de­vel­op­ment Nieuwe Steen­berg is be­ing built was con­tin­gent upon a num­ber of cri­te­ria,” says de­vel­oper Si­mon Waner.

“One of th­ese was the pro­vi­sion of ‘in­clu­sion­ary hous­ing’ to be built within a cer­tain ra­dius of the Nieuwe Steen­berg de­vel­op­ment.

“The ob­jec­tive of build­ing th­ese homes was to up­lift lo­cal com­mu­ni­ties, and the ben­e­fi­cia­ries must meet pre­scribed re­quire­ments as agreed with the City of Cape Town.”

The homes cost R450 000 each, in­clud­ing VAT and trans­fer fees. How­ever, the joint ven­ture sub­sidised each home by R100 000, so the fi­nal price to each buyer was R350 000.

The own­ers took oc­cu­pa­tion in July.

T h e h o me s we r e c o n - structed by build­ing con­trac­tor CAT. Qual­ity ma­te­ri­als were used and the homes have mod­ern kitchens and bath­rooms, ac­cord­ing to the project man­ager, Livia Coet­zer of Land Eq­uity In­vest­ments.

Fin­ishes in­clude alu­minium win­dow frames and porce­lain tiles, and all homes are fit­ted with so­lar heat­ing.

“A num­ber of de­vel­op­ers have con­tested the re­quire­ment that in­clu­sion­ary hous­ing be pro­vided, and on oc­ca­sion they man­age to avoid this is­sue through the courts,” says Mike Gre­eff, chief ex­ec­u­tive of Gre­eff Prop­er­ties, which has a man­date to sell homes at Nieuwe Steen­berg, ad­ja­cent to the Steen­berg Golf Es­tate.

“How­ever, the Nieuwe Steen­berg De­vel­op­ment Com­pany and its ven­ture part­ners have em­braced the pro­vi­sion.

“The Nieuwe Steen­berg team worked in con­junc­tion with the City of Cape Town’s South Penin­sula Mu­nic­i­pal­ity through the pro­cesses from ini­tial plan­ning stages to the fi­nal han­dover of keys and ti­tle deed.”

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