Divercity Urban Property Group is breaking ground on its first development in Cape Town – 9 Hopkins, a new mixed-use project that will introduce almost 400 affordable rental apartments in Salt River.
The city has a severe shortage of rental housing at rates under R8 000 per month and Divercity CIO, Jonathan Reader, says this development aims to fill that gap.
9 Hopkins will feature 398 apartments, most of which will be studio and one-bedroom units, totalling 168 and 154 respectively. There will also be 76 two-bedroom apartments with sizes ranging from 18m2 to 50m2.
In addition to the rental homes, 9 Hopkins, which forms a triangle wrapped by Yew, Hopkins, and Aubrey Streets, will offer 930m2 of retail space, a clubhouse, gym, co-working area, and a communal terrace. Furthermore, residents will be able to enjoy a private courtyard in the centre of the development.
With a modern, upmarket design, the development will add an edge of sophistication to the node that already boasts a prime location in the Mother City. It will also feature green, open spaces.
Reader says this development is the start of an “exciting new chapter” for Divercity, as it looks to expand beyond Gauteng, where it has already established a leading track record developing affordable, yet quality accommodation in mixed-use developments that promote quality urban living.
Divercity’s developments include the landmark Jewel City in the Johannesburg CBD and the upcoming Barlow Park on the periphery of Sandton CBD, which it is currently developing with Atterbury, in partnership with Barloworld and the Moolman Group, as well as Twin City.
“The team is working on several other opportunities in Cape Town that should break ground in 2024,” confirms Reader.