Row upon row of secure residential homes are being completed in a number of developments along the M3 in Soweto in Gauteng.
Company chief executive Ben Pierre Malherbe says that various developments are underway ranging from rental units and government subsidised houses and those affordable homes that will be sold to residents.
Calgro M3 is building 1 600 units in Pennyville and 800 of these homes have been sold to investors. Another 400 units will be managed by the Johannesburg Social Housing Company and let out to people at affordable rentals while the other 400 comprise of RDP homes.
Another major project along Main Reef Road between Soweto and Florida is being erected at a cost of R2.28billion and will see 9 600 housing units coming onto the market. About a third of these homes will be subsidised.
Malherbe says the remaining two-thirds will be for rent or will provide buyers with entry-level affordable homes. The sectional title properties will range in price from R325k to about R380k while free-standing homes in this development will cost around R500k.
Behind the Jabulani central business district another 4 200 units are being built as a combination of ownership units or rental properties. These units are selling for between R242k for a bachelor flat to R526k for a three-bedroom apartment.
Adjacent to the Jabulani hospital, 500 new flats are being built in three-storey apartment blocks as the first phase gets underway but Malherbe points out that when the project is complete there will be 2 600 units of which 400 will be subsidised and 100 for rent.
Malherbe says the Calgro M3 projects are set to change the face of Soweto as more and more high-rise buildings are planned for the suburb.
Readers' Comments Have a comment about this article? Email us now.