South Africa’s city of Johannesburg has launched a programme to rejuvenate the inner-city with a tour of the first three of 84 buildings targeted for development.
Mayor Herman Mashaba confirmed the reports and said the project is aimed at offering quality low-cost accommodation for residents to solve the problem of a housing backlog which has raised up to over 300 000 units.
“It is estimated that the city of Johannesburg’s inward migration is set at about 3 000 people per month, which undoubtedly adds greater pressure on us to deliver services efficiently,” said Mayor Herman.
The projects are expected to be completed in the next twelve months – availing 384 units for residents. Additionally, between 80 and 100 buildings will be released this year with a potential of just over 500 buildings.
EGC Properties and Johannesburg Housing Company were awarded construction contract and have both committed a proposed total investment of over US $2.8m into the project and they have been given the mandate to execute revamp of the three properties.
The mayor urged other developers to submit their tenders by February 28 to be considered for the remaining 81 properties. More than 900 jobs is estimated to be created during construction period.