To drive investment in affordable housing, the City of Cape Town, in South Africa, has set up a special fund for small-scale developers.

The Development Charges Fund is targeting an initial investment of ZAR20 million to subsidise micro developers on a first-come, first-served basis, reports Infrastructure News.

Through the fund, the City aims to promote the development of affordable housing units in almost 200 suburbs in Cape Town, including Beacon Valley, Bloekombos and Delft.

The subsidy is expected to cover up to 90% of development charges for bulk services such as roads, stormwater, water, sewerage, public transport and waste removal.

The City is also setting up support offices in the targeted areas to facilitate approvals processes, and compliant, off-the-shelf building plans are being developed to further streamline the process.

27 February 2024
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