Investing in Cape Flats property
26 November 2004
The first bricks in an innovative housing scheme that aims to help first-time buyers in historically disadvantaged areas were laid at Blue Downs on the Cape Flats in Cape Town on Thursday.
According to the South African Press Association (Sapa), Bardale Village is the answer for many first-time home buyers who have been battling to become part of the Western Cape's surging property market.
Ismail Dockrat, chief executive of the Western Cape's trade and investment promotion agency Wesgro, told Sapa that Bardale Village was a R90-million property investment aimed at providing secure, affordable and quality living for first-time home buyers and lower to middle-income families.
The development is located between the Stellenbosch arterial and Hindle roads, less than 15 minutes from Cape Town International Airport, Bellville, Blackheath and the Winelands, and only a half-hour drive from central Cape Town.
"We see Bardale Village
as a flagship investment in township property and playing quite a big role in township regeneration", Dockrat said.
Wesgro aims to encourage "more diversified investment" into the Western Cape, and to attract investment in areas whose economic potential has not yet been unlocked.
According to Sapa, the development was funded by a German consortium, Integrated Housing Development. The houses borrowed from Germany's "Gartenstadt" designs for medium-density residential complexes that offer security, social facilities and environmentally friendly designs at affordable prices.
According to Jacko McCarthy, project manager for the Bardale Village development, homes will range from one to five bedrooms and be priced between R160 000 and R310 000.
"There is a big demand in Cape Town for aesthetically appealing low-cost housing with easy access to amenities such as transport, shopping areas, schools and hospitals", McCarthy told Sapa. "Bardale addresses this, and
is accessible to families who earn from about R6 500 per month."
Blue Downs is part of the outlying areas earmarked by the Western Cape government for development. Plans include improving public transport in the area, building more schools and other facilities that would encourage job-creation.
"In support of black economic empowerment and as a community development initiative, we are using local skills as much as possible in this project", McCarthy added.
Thursday's brick-laying ceremony marked the first of eight phases, with the first phase expected to be completed by mid-2005 and the entire development to be completed within seven years or less, Sapa reported.
SouthAfrica.info reporter
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