Over the next decade, Johannesburg’s skyline is going to be characterised by cranes as the City turns into a construction site.
This follows an announcement by the Executive Mayor of the City of Johannesburg, Cllr Herman Mashaba, during the South African Institute for Black Properties (SAIBPP) inner city tour on Tuesday, 7 August 2018.
The tour coincided with the first day of the 2018 annual SAIBPP convention, which brought together industry professionals, public sector officials, investors, business leaders and decision makers from across the property sector and built environment.
“As the City of Johannesburg, we are determined to build an inclusive economy,” said Mayor Mashaba.
This tour was held in line with the City’s inner city revitalisation project, a multi-targeted initiative incorporating initiatives and targeted strategies to facilitate the rebirth of the inner city, which is pivotal to unleashing Joburg’s economic potential.
During his address, the Executive Mayor said 71 City-owned properties will be converted into affordable, low-cost housing for residents, while others will be converted into affordable commercial spaces for the benefit of small businesses, entrepreneurs and investors.
In terms of affordable and low-cost housing, the City is targeting rentals that fall within the R800 to R1 000 monthly range.
Mayor Mashaba committed the City into providing partnership opportunities to SAIBPP members, business people and investors on this exciting journey, which seeks to transform the inner city into a place of exciting prospects. These partnerships will ensure the City’s residents benefit from the relationships.
“I believe that the ultimate success of any developing city is its ability to re-create an inclusive environment that brings its people closer to amenities, thus bringing about social cohesion, integration and economic inclusion,” concluded Mayor Mashaba.