Affordable housing developer, Alleyroads, has broken ground on a R10 billion affordable housing development in Shakaskraal on KwaZulu-Natal’s north coast, approximately 7km north of Ballito.
At 450 hectares and comprising more than 6 000 affordable housing opportunities, Palm View Estate will be the largest estate in the province. Palm View Eco Estate will go on sale soon with the formal launch of Palm View Country Estate planned for later in the rollout process, offering larger stands, while Palm View Retirement Estate is designed to offer a full retirement product included assisted living options.
“Palm View Estate is unique in that it provides homebuyers with a complete lifestyle offering at an affordable price point that doesn’t compromise on the benefits of secure estate living. Walking and mountain bike trails will maximise the area’s pristine nature sustained by the river that runs through the estate, and residents will also enjoy the benefits of a lifestyle centre offering doctors’ consulting rooms and other amenities, including state-of-the-art security,” comments founder and COO of Alleyroads, Ivan Pretorius.
“For further convenience, a school and 14 000 m2 shopping mall (forming part of Phase 1) as well as other tertiary facilities are earmarked for development adjacent to the estate, once the estate has been sufficiently developed.”
Alley Roads recently acquired the development for R160 million from Sortor Investments and will initially offer four single-story residential options, ranging from 40m², 60m² and 70m² to 80m², comprising two-bedroom, one-bathroom and three-bedroom, two-bathroom apartments. Selling prices of the units will start from under a R1 million with building packages to suit family needs.
“The mix of homes has been carefully considered to provide a wide product range for first-time home buyers, as well as young and growing families who are keen on the lifestyle element at an affordable price,” says Senior Development Manager at Alleyroads, John Henry Saunders.
All units will have exclusive landscaped gardens and will be developed according to IFC EDGE or EDGE Advanced credentials, making them zero carbon ready, with up to 40% or more on-site energy savings compared to conventional building methods.
In addition, solar geysers, smart meters, LED lighting and aluminium sliding doors as well as other features will contribute to energy and water savings for the purchaser.
“Because of the IFC EDGE certification and green features, homeowners will qualify for additional discounts on their mortgage rates through the banks’ green bond finance. All the major banks have already expressed interest in financing prospective homeowners, some of whom will also qualify for further government subsidies through the First Home Finance initiative,” adds Pretorius.
Palm View estate will be completed in stages over the next five to ten years.