More than 400 families in Cape Town are expected to benefit soon from a joint initiative to upgrade the city’s affordable-housing rental stock.

The South African National Housing Finance Corporation (NHFC) is partnering with the City of Cape Town to upgrade and maintain affordable rental homes in the city, currently estimated at 57 000 units, of which more than 200 are scheduled to be completed by July, effectively improving the quality of life for at least 400 families.

According to the government news portal, the NHFC has committed ZAR150 million to the initiative, providing finance, business and technical support, and managing a database of contractors and suppliers.

Human Settlements Minister Lindiwe Sisulu says it will enable urban restructuring, a chance to meet housing demand and create jobs. ‘Our sector plays a key role in stimulating the economy to produce much-needed jobs and opportunities in our delivery value chains, especially for the designated groups.’

The endeavour forms part of a larger government housing scheme across Gauteng and the Western Cape, which has seen the launch of projects in Kempton Village in Ekurhuleni and Anchorage in Bellville, Cape Town.

27 April 2021
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