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Polokwane to get affordable project

24 Nov 2009
A ground-breaking ceremony was recently held for a new affordable housing development in Limpopo's capital, Polokwane.

The mixed-use development is situated in Doornkraal, north west of the Polokwane CBD on the old Seshego road, and will offer 1409 full-title residential units to the untapped affordable housing market, including first-time home owners. The development will be built in five phases over a period of four years.

The development, to be developed by Matome Maponya Investments (Pty) Ltd (MMI), will consist of 564 housing units catering for the financial services charter market and 845 houses for the GAP market. Houses will vary in size, and are priced from R360k to R481k at current market prices.

Nedbank Corporate Property Finance: Affordable Housing will be partially funding the development worth approximately R600m in total development cost.

The project is in line with Government's Breaking New Ground Initiative. Among other things, it aims to integrate previously excluded groups into the city via its close proximity to Polokwane and transport nodes; provide a safe and secure environment by being within an established development and adjacent to the existing upmarket suburb called Lesedi; and ensure that low-income housing is provided in close proximity to areas of opportunity.

"This will be our first affordable housing development in the Limpopo Province and the first of many more," says Manie Annandale, head of Nedbank Corporate Property Finance's Affordable Housing Development Unit.

Meta Maponya, project manager for Mahlako A Phahla development, says the development will provide homes to the untapped market, including first-time homeowners who do not find renting an option, but could not afford homes. "Transport to work will be accessible as it is closer to the city centre than the old Seshego," she said.

Maponya added that the gap between RDP housing and conventional affordable housing is affecting an increasing number of people. "We believe there is an opportunity to establish synergies in the development process with more cost-effective delivery benefiting this sector. This development aims to achieve a higher visual quality which will provide a more attractive urban environment and enhance the self-worth of the residents. This will also encourage people to aspire to improve their quality of life and live in a better house than an RDP house."

Moreover, Polkwane will also boast a 75,000sqm regional shopping centre when the Mall of the North opens it doors in the first quarter of 2011.

Mall of the North's anchor tenants include two supermarkets which are in excess of 5,000sqm, Pick n Pay and Checkers, joined by Edgars, Woolworths and Game, as well as a cinema complex.

These anchors will be supported by national retailers including a Truworths Emporium of 3,000sqm and a variety of 10 Foschini Group brands. Ackermans Group, Mr Price Group, Dion Wired, Incredible Connection, Clicks and DisChem will also be joining Mall of the North.

Some 4,000sqm of banking will represent all major South African banks and a food court will be complemented by a variety of coffee shops at strategic positions through the mall.

"The economic and social benefits that Mall of the North will bring to the local Limpopo and Polokwane communities will be substantial," notes Jannie Moolman of Moolman Group.

It will also attract additional consumer spend to the area by unlocking new retail prospects. "Mall of the North will serve Polokwane as well as the entire northern region of the country, with cross-border shopping as an additional factor," says Flanagan.

Providing parking for approximately 4,500 cars, this regional shopping mall will be located on the 27ha site at the intersection of the N1 bypass and Modjadjiskloof Road (formerly Magoebaskloof Road). Substantial road upgrades are planned in the immediate area. – Eugene Brink

For more information contact Manie Annandale on 082 610 1199.

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