Some Cape property developers have started making commitments that support redress and spatial justice. Developers behind a 517-home project in Rosebank have committed a financial payment to the City to be used for affordable housing developments in good locations.
cannot afford to live in the inner city.highest average value of residential propertiesThe drastic unaffordability of homes in Cape Town is made clear when compared to how much people actually earn.could afford an average house sale price of R930,000, meaning that many simply don’t have the income to access adequate housing.
There is a general understanding that inclusionary housing is an instrument that mandates private developers to enable, support and implement affordable housing units as part of large private developments. In many of these cities, inclusionary housing has brought poor and working-class people close to economic centres. This is much needed in our context, where the cost and time of travel is borne by the poorest of the poor, living on the periphery.
Since then, 16 developers have volunteered affordable housing as a way to comply with Spluma. These developments include four developments in the inner city, one in Sanddrift , two in Paarden Eiland, one in Diep River, one in Observatory, two in Sea Point, one in Kraaifontein and one in Salt River. This amounts to approximately 792 affordable homes for families that would not otherwise have been able to afford this opportunity.