The City of Cape Town’s Mayoral Committee Member for Human Settlements, Councillor Tandeka Gqada, today, 12 June 2013, handed over keys to some of the residents of the GAP and Open Market houses in Phase 1 of the Pelican Park Integrated Development. This forms part of the City’s efforts to build an Inclusive City through Integrated Human Settlements.
Councillor Gqada was accompanied by the MEC for Human Settlements, Bonginkosi Madikizela and representatives of the City’s partners in this project – Power Construction; the appointed developer; and the main financer of the project, Nedbank.
The cost of the development is R500 million, with the Provincial Government’s contribution at R240 million. The City will manage the distribution of these funds to the developer as milestones in the development are achieved.
Pelican Park is situated between Zeekoevlei and Strandfontein Roads, about 5km north of the False Bay Coast.
When completed, Pelican Park will include more than 2 100 state-subsidised houses, 696 single-storey semi-detached GAP houses and 63 double-storey house shops from which residents can operate small businesses.
Pelican Park is an environmentally-friendly development that will include schools, a clinic, a library, a fuel station and a shopping centre. It is a development that will see people from different cultures, religions and generations, living together as a community.
“We are so excited about this project, as it will provide houses to 3 200 families in one of the first integrated housing projects in Cape Town. Home ownership is one of the most significant economic achievements for an individual.
“As part of our vision of building a Caring City, we are committed to providing dignified living areas that communities can be proud of. We know that the provision of this kind of opportunity leads to a community’s brighter future,” said Councillor Gqada.
The mortgage bonded component of the project comprises of two sections, namely New Horizons and On the Vlei.
In the New Horizons section GAP houses sold for R290 000,00. A deposit of R2 000,00 was required with a minimum earning of R7 800,00 per month for a 100% bond.
Market housing which is situated On the Vlei, sold for R465 000,00. A deposit of R10 000,00 was required with a minimum earning of R15 000,00 per month for a 100% bond.
From July, occupants will also start taking possession of the first Breaking New Ground (BNG) homes. These are government subsidised houses for beneficiaries who earn less than R3 500,00 per month. A number of beneficiaries have already been approved.
Interested parties can call the City of Cape Town’s Database Call Centre on 021 444 0333 for more information.