City promises first affordable housing in CBD since 1994
On Thursday, Cape Town Mayoral Committee Member for Transport Councillor Brett Herron gave a press conference to explain the future development of the Foreshore Freeway Precinct. This comes after a public outcry over the lack of affordable housing within the Cape Town inner-city.
The project spans a six-hectare portion of land under and between the unfinished freeways on the northern edge of the central business district (CBD). Bids for the project must include an unspecified percentage of affordable housing, which can be built within the development, or somewhere else within the CBD.
Herron said the percentage was undefined as the City believed if developers are given a target percentage, only that amount of affordable housing would be created. Now, developers will have to compete on how much affordable housing they will deliver.