Cape Town - The City of Cape Town welcomes the start of the Goodwood social housing project which is expected to deliver 1 050 rental housing units. It demonstrates social housing in action and what is possible when partners in government and the private sector work together.
Social housing, which offers affordable rental units for families with a combined monthly income of between R1 500 and R15 000, is one delivery model that the City is driving hard they said.
The Goodwood Station Social Housing Development project, worth R380 million, is a collaborative effort between the national and provincial Departments of Human Settlements, the Social Housing Regulatory Authority (SHRA), the City of Cape Town, Passenger Rail Agency of South Africa (PRASA), Intersite Asset Investments and the National Housing Finance Corporation, among others.
The government subsidy contribution to this social housing project is approximately R280 million.
The City has provided development facilitation support and various incentives to contribute to the financial viability and operational sustainability of this social housing development.