The City of Cape Town is set to release its sixth inner city property for social housing development following City Council approval today, 12 June 2024. Cape Town Mayor Geordin Hill-Lewis announced that the 9 000 square metre New Market Street property in Woodstock will yield 375 social housing units and over 350 open market residential units on the verge of Cape Town’s CBD. Link to the Full Council Speech.
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The City has now released central Cape Town land parcels with an estimated yield of over 4 900 affordable housing units, including 2 100 social housing units. Sites include New Market Street, Pine Road, Dillon Lane, and Pickwick in Woodstock, as well as Salt River Market and the now tenanted Maitland Mews development, with more in the pipeline.
‘You may recall that the original feasibility study for this 9 000 square meter property envisaged 200 social housing units as part of a mixed-use development. However, as we reach the final land release stage today, that number has risen to 375 social housing units, as part of our commitment to maximise yield working together with social housing developers. These units will be cross-subsidised by retail space and more than 350 open market residential units,’ said Mayor Hill-Lewis.
The New Market Street site is in a prime location in Woodstock, close to all amenities and public transport, and just five minutes from the City Centre.
‘In total, city-wide, we have over 6 500 social housing units at various stages of the planning pipeline across 50 well-located parcels of land. These units will be a real game changer for qualifying residents who earn less than R22,000 a month,’ said Councillor Carl Pophaim, Mayoral Committee Member for Human Settlements.
In his Council address, Mayor Hill-Lewis further called for renewed urgency on the release of national government mega-properties in Cape Town.
‘We estimate that around 100 000 social housing opportunities are possible at sites such as Wingfield, Youngsfield, Ysterplaat and the Parliamentary Village. I hope that the national winds of change will blow in a fresh urgency to the release of some of the mega-properties owned by the national government throughout our metro,’ said Mayor Hill-Lewis.
Supplied by: City of Cape Town
