Project includes homes for low-income buyers
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.”