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71 PROPERTIES PROSPECTUS LAUNCH - JOHANNESBURG INNER CITY TURNS INTO A CONSTRUCTION SITE

Posted on 2018-08-21

“I am pleased that we started the process of turning the Johannesburg Inner City into a construction site through the launch of the 71 Properties Prospectus. 

This is an historic moment, because in bringing this plan to life, residents of this City will enjoy the benefits of service delivery that speaks to their needs”, said Mayor Herman Mashaba at the launch of the 71 Properties Prospectus.

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It is no secret that the economy is growing at a snail space, this – coupled with high unemployment and ongoing crime – spells a recipe for a disaster. It is for this reason that the Mayor has developed a ten-point plan for the City to realise the following:
-          attaining 5% economic growth by 2021;
-          promoting more compact, mixed use and walkable neighbourhoods;
-          reducing distances, travel times and costs by bringing jobs and social amenities closer to communities; and
-          creating safer, cleaner and connected communities with access to economic opportunities within the area.
These 71 buildings earmarked for the regeneration of the Inner City are expected to deliver at least 4000 units for student accommodation, small business premises and affordable accommodation for some of our poorest residents.
This is part of Diphetogo, fundamental change, this administration has promised residents of the City.
The City is making its property available for the purpose of progressively transforming the inner city into a space where residents can live work and play.
Unfortunately, the City simply doesn’t have the resources and capacity to bring this vision to fruition alone. It is for this reason I extended an invitation to property developers, funders, professionals and the construction industry to work with the City to redevelop the various precincts of the City.
Mayor Mashaba said: “I am excited to by engagements from leading financial institutions such as ABSA Capital, Nedbank, Rand Merchant Bank and Standard Bank for expressing their support and interest in the work we are undertaking.”
The City is sensitive to the fact that skills development, employment and SMME development must happen alongside plans to transform the inner city in order to address the unemployment that faces many of our residents.  Through creating this urban construction site, 5000 temporary jobs will be created during the construction phase.
As part of the submission process, developers will be required to set out how many work opportunities are to be generated as part of their bid. This will create opportunities for our residents, particularly our youth, to enter the job market.
“I remain committed to creating clean and safe city precincts; a city where residents can make a living without fear of their livelihoods being threatened. As a result, the City will be dealing with the challenges of bad buildings thereby ensuring that the illegal activities are rooted out and buildings managed by bona fide owners”, said Mayor Mashaba.
Tenders will be available from 23 July for purchase at the Joburg Property Company’s Office in Braampark. These 71 individual properties will be made available to the industry and this will be available for interested parties to respond to until the 30 of November 2018.
 

 

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