Investor/franchisee required for the development of a feasible residential affordable housing projec

Description

Business type: affordable housing development opportunity

Location: Kuilsriver, Cape Town

Project type: multi-family sectional title apartment development

Current status: investment and development opportunity

Development

Land size: 7,127m²

Total planned units: 106

Apartment type: two-bedroom units

Planned residential blocks: 8

Building configuration: three-storey walk-up apartments

Private balconies: included with each unit

Average selling price: approximately R950,000 per unit

Phase 1

Units: 53

Average unit size: 44m²

Balcony area: excluded from stated unit size

Selling price: R925,000 per unit

Projected development cost: approximately R40,000,000

Phase 2

Units: 53

Average unit size: 44m²

Balcony area: excluded from stated unit size

Selling price: approximately R975,000 per unit

Projected development cost: approximately R40,000,000

Land and approvals

Development land: identified

Zoning approval: in place

Proposed residential use: approved

Developer

Developer experience: established

Previous development activity: Gauteng

Master franchise holder: involved in the project

Funding requirements

• Initial land acquisition
• Municipal development contributions
• Pre-development professional costs

Participation options

• Investment partner
• Investor
• Franchisee

Market

Target market: affordable housing buyers

First-time buyers: target customer group

Target price segment: below R1,000,000