City issues tender for R103m Cape Town CBD affordable housing development

(Media Release: Issued and provided by the City of Cape Town, Media Office)

The City is excited to announce the release of R103 million worth of prime property of approximately 9 000 m² in size along New Market Street, Cape Town CBD. The property is located in the vicinity of all major transport routes in central Cape Town.

This is another massive milestone in the City’s drive to develop more affordable housing as part of the Mayor’s accelerated land release for affordable housing programme.

"We regard this as a flagship Cape Town CBD partnership project, holding the potential to develop approximately 500 well-located units, of which 200 are earmarked for subsidised social housing rental units. The release of this prime R103 million land is a testament to the focus of unlocking land for subsidised affordable housing at scale for those earning below R22 000 per month.

"This programme where the City is the enabler of more affordable housing in partnership with the private sector, is increasingly gaining momentum as the work we have done over the past years start to pay off. These developments not only provide affordable housing opportunities, they also reinvigorate neighbourhoods and help to protect against gentrification and reverse the trend in urban centres so that our moderate- to lower income residents can again be afforded well-located opportunities. Our housing developments are also catalysts for meaningful economic growth in our neighbourhoods," said the City's Mayoral Committee Member for Human Settlements, Councillor Carl Pophaim.

The closing date for this tender submission is 16 October 2023 at 10:00.

Read the full press release here or apply for social housing here.