Cosmopolitan Projects Spends R1.3b on Infrastructure for Mega Housing Development
Cosmopolitan Projects launched its next mega housing development, Watervalspruit – situated south of Alberton next to the R59 – on 1 June 2016.
Established in 1992, Cosmopolitan Projects is South Africa’s market leader in affordable housing. Today it has offices across Gauteng and continues to provide exceptional service with a particular focus on lower to middle-income groups.
With over 30 000 houses delivered to date – currently at a rate of 3000 houses per year – Cosmopolitan Projects consistently achieves its goal of ensuring that individuals improve their lifestyle and well-being through home ownership.
Integrated Property Development
Cosmopolitan Projects has an integrated approach to property development. Besides the 15 358 affordable houses and high density apartments, Watervalspruit will also include schools and day-care facilities, a regional shopping centre, public transport facilities, a filling station, community facilities, etc.
Overview of the Watervalspruit Development
- 15 358 residential units consisting of 13 242 residential 1 even and 2 116 high density units.
- 1 Regional shopping centre of ±33 000 m².
- 16 Schools, including an independent school of ±9 000 m2 on ±5Ha grounds for ±1 650 learners.
- 17 Social nodes for community facilities.
Watervalspruit will provide housing to people earning from R10 500 per month and will offer building packages from R380 000. People earning less than R15 000 per month will also qualify for housing subsidies under the Financial Linked Individual Subsidy Program (FLISP).
The civil and electrical services and infrastructure for the entire project will total R1.3 billion. The services and infrastructure for the first phase – comprising 1 393 residential 1 stands and 425 high density units, the shopping centre, filling station, taxi rank, three schools and three social node stands for community facilities – will total R160 million.