Construction of a landmark affordable housing project at Bridge City in KwaZulu-Natal is due to start within weeks.
With 356 affordable apartment units to be offered from R499 000, Ive says these residential units are crucial to helping the partnership realise its vision of providing quality, affordable urban homes in a new town centre replacing a previously underdeveloped strip.A joint venture between Tongaat Hulett and eThekwini Municipality, Bridge City is positioned as a mixed-use precinct able to cater to a broad range of constituents.
With 356 affordable apartment units to be offered from R499 000, Brian Ive, development executive at Tongaat Hulett Developments, says these residential units are crucial to helping the partnership realise its vision of providing quality, affordable urban homes in a new town centre replacing a previously underdeveloped strip.
These units will be built by JSE-listed Calgro M3, which has purchased the land for development in conjunction with home loans provider Chartwell Group.
Located less than 20km north of Durban’s CBD, Bridge City is bordered by Phoenix, Inanda, Ntuzuma and KwaMashu, collectively accommodating over 600 000 people.
Ive says these new affordable homes are therefore a further important piece of the Bridge City development puzzle, which includes the 13ha Bridge City Business Estate and a town centre consisting of commercial, retail, residential, state hospital and regional magistrate’s court sites.
The opening of eThekwini’s Go!Durban Integrated Rapid Public Transport Network (IRPTN) public transport system and the installation of CCTV security throughout Bridge City by the end of the year will make Bridge City a highly-desirable commercial and residential node.
“We’re very excited about this development because it is the first delivery of affordable residential accommodation in Bridge City,” says Ive.
“Bridge City was envisioned as a mixed-use town centre like the Umhlanga Ridge Town Centre development which includes high-intensity, mixed-use sites in a town centre in which residents play an important part.”
Ive says the construction of the IRPTN will provide future residents with direct access to the entire city via this world-class Bus Rapid Transport (BRT) system which also integrates with rail and traditional road public transport modes.
The affordable housing units comprise secure, quality apartments, most with two bedrooms, one bathroom and open-plan living areas. Standard finishes include granite kitchen tops, ceramic tiles, burglar bars, security gates and built-in bedroom cupboards in the main bedroom.
“The development will enable a number of families in the region, in particular first-time homeowners, to bridge the housing affordability gap and step onto the home-ownership ladder. Over the past few years there has been a dearth of good quality housing in the region, which has one of the highest household densities in eThekwini.” says Gregory Connellan, executive director of Chartwell Group.
“Homeownership gives people the opportunity to live in a better environment and build up a capital base that provides a long-term source of financial security.”
He says the Chartwell Group is introducing a number of unique and attractive features to qualifying buyers, and these include 100% home loans with zero upfront deposits, no occupational rental charges and an accelerated two-week credit approval process. In addition, homeowners will pay one consolidated monthly bill that covers all home loan repayments, body corporate levies, insurances and municipal fees.
The construction of the apartments is the first foray into the eThekwini region for Calgro M3, which specialises in developing integrated and mixed-use projects that incorporate various types of fully-subsidised, partially-subsidised and affordable housing.
“By undertaking this project, we will be participating in the highly-acclaimed Bridge City Precinct development, and in so doing will contribute significantly to the advancement of the community in the area,” says Wayne Williams, Calgro M3’s group executive director.
Bridge City’s role as a source of affordable accommodation will be further enhanced in the medium term by the acquisition of five sites in the town centre by eThekwini Municipality.
Ive says these sites will be used to create social and gap housing opportunities, which will be managed by the city’s chosen development partners.
“So over the next year to two, we will see much development taking place in Bridge City Town Centre with the delivery of good quality residential units for sale to the market, and this is welcome news,” says Ive.
For more information, email Brian Ive, development executive at Tongaat Hulett Developments.
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