Nedbank contributes R19m towards Midrand housing project

The housing development is part of a project to upgrade Kaalfontein initiated by the City of Johannesburg, and the involvement of Nedbank further underlines the bank's commitment to support government's goal of integrated communities with decent housing and access to transport.

Project will benefit local retailers

"Housing for lower income earners is in short supply in the area, and this latest project is expected not only to assist people who want to live close to work, but also to boost the area in terms of retail traffic," says Manie Annandale, Nedbank's head of Affordable Housing.

Kaalfontein forms part of the greater Midrand area on the northern periphery of the City of Johannesburg Metropolitan area and is close to Grand Central Airport. Surrounding townships are Tembisa, Ivory Park, Glen Austen, Clayville, Birch Acres, President Park and Jukskei.

In terms of the City of Johannesburg Metropolitan Regional Spatial Development Framework (RSDF), Kaalfontein is part of an area known as Greater Ivory Park and stands to benefit from the Upgrading of Marginalised Areas Programmes. This programme aims to provide viable and efficient socio-economic and engineering infrastructure within the marginalised, but formal townships of the city.

All services are available

The development will not only enhance Kaalfontein as a suburb, but will also ensure that adequate infrastructure, including sewage, water and electricity are readily available. The houses are expected to sell within the R319 000 to R422 000 price range.

"Safrich's credibility as an affordable housing developer has been proven through the construction of more than 20 000 lower income homes since 1987, mostly in areas like Sebokeng, Palm Springs, Mamelodi and Protea Glen, and we are confident of delivery of quality housing," concludes Annandale.