CFO Kholeka Zama says its a joy to hand over keys to Bothasig Gardens tenants
The Communicare chair says the low-income development will help to build integrated communities.
Social housing institution Communicare handed over the keys to the first of 314 homes in its Bothasig Gardens development on 28 July. The homes are reserved for lower-income families.
A total of 42 units will be handed over by the end of the month, a further 50 during August, and all 314 units will be occupied by new tenants by November.
Communicare chairperson and Wesgro CFO Kholeka Zama said that this development was crucial for Communicare’s mission to help build resilient, integrated communities. “We’ve been working on this for several years, and it is a joy to hand over keys to tenants today.”
Families earning a combined income of between R1,500 and R15,000 per month can qualify to live in the units. Thirty percent of the units are reserved for families with incomes below R5,500 per month.
“These developments are revolutionary, as they enable access to affordable housing in high value urban locations,” she said, adding that the successful completion of the Bothasig Gardens development would help Communicare access other valuable sites for sustaining high density developments.
This phase of the Bothasig Gardens development cost between R165 and R175 million, and was a jointly-funded development, with Communicare investing R75 million, and the government providing R90 million via social housing grant funding. Social housing grants are provided for construction only, with rental income from the development going to operational costs.
Communicare’s next project will be the mixed-use Annandale development in Kuils River, with just under 4,000 homes. Cape Town’s Municipal Planning Tribunal approved the rezoning of the land on 27 July, and the development will be the first social and affordable housing development in Kuils River. Communicare is also planning upgrades to complexes in Rondebosch and Brooklyn.