One of the more innovative concepts for affordable housing is to bring the same energy-efficient and green features as incorporated in luxury estates. The January issue of SA Affordable Housing will profile Century Property Developments’ model of affordable housing at The Parks, Riversands.
The Parks is a rental-only development by Century Developers. Image credit: Eamonn Ryan
This Edge-certified (green residential certification system) development consists of 1 880 bachelor, one-, two- and three-bed apartments available only for rent in the fast-growing Riversands area, adjacent to Steyn City in Fourways. Rentals for units in the four-floor buildings range from R3 800 to R8 500/month. The development, 65% of which is funded by Nedbank and the balance by Century, boasts a secure gatehouse with biometric fingerprint access manned 24/7, while tenants benefit from a variety of free weekly activities and events for kids and adults. Communal facilities include walking paths, kids’ play parks, braai areas and sports fields; free WiFi in each apartment; and a clubhouse with swimming pool.
Century CEO Mark Corbett says The Parks takes its upmarket ‘Waterfall’ concept and makes it more affordable, with a school and clubhouse inside the estate, as well as the other abovementioned facilities. It can achieve affordability of such extras through the scale of the project. Free uncapped WiFi can be offered, for instance, because the number of units reduces the cost-per-unit to approximately R50/month – much lower than any individual resident could obtain, as the estate owns the fibre reticulation. This cost, as well as many others, is included in the monthly rental.
For more information, be sure to read the full article in SA Affordable Housing January issue.
