A new affordable housing development has broken ground in Parow, Cape Town.
The Wynne, developed by WCB Property Development, is set to include 309 residential apartments, approximately 600m2 of retail space on its ground floor and a gym, rooftop entertainment area and generous landscaping.
“We strongly believe the Voortrekker Corridor yields significant opportunities in broaching the affordable housing dilemma plaguing the metropole,” says Paul Nel, MD at WCB Property Development. “By providing housing opportunities along the corridor, more specifically in Bellville and Parow, residents can enjoy living somewhere which is closer to work, transport, and leisure activities which really helps to uplift communities in a positive way.”
The Wynne is the only new build project to cover the stretch of the Voortrekker Corridor over the past years and it brings the promise of several previously inaccessible opportunities to the local community such as new jobs, additional security along the corridor, and long-term investment from big business to help improve the area.
WCB Property Development acquired the land in 2021, previously an old car showroom and garage, and financed it with The National Housing Finance Corporation in just under a year. After several delays due to the withdrawal and then reinstatement of the PT Zones, planning approval was granted in September 2022 and the first pouring of the raft slab took place in October this year. To date, more than 65% has been sold.
The project’s other partners and sponsors include Viva Cape, The Greater Tygerberg Partnership (GTP), Voortrekker CID and The City of Cape Town.
Properties start at R450 000 and are ideally suited to lower income and first-time buyers who want to own their own home in a thriving business node, as well as astute investors.