The first five beneficiaries will receive the keys to their new houses in the R178.9 million housing project at Harmony Village, Mitchells Plain, Cape Town on Monday 2 September. The Western Cape Minister of Human Settlements, Mr Bonginkosi Madikizela, along with the CEO of the Cape Town Community Housing Company (CTCHC), Mr Fungai Mudimo, will perform the ceremonial handover.
The project is a result of partnership between the department, the City of Cape Town, and the CTCHC. It represents a sustainable model of housing, in which there is both a government and a beneficiary contribution, enabling higher quality housing delivery than standard fully subsidised houses, and as well as creating a sense of responsibility among the beneficiaries as they contribute towards capital and service costs.
The first five beneficiaries range in age from 40 to 23, and to qualify, need to meet the following criteria.
Household income between R3000 – R3500;
First time receiver of a housing subsidy;
First time home owner;
Clean credit record (Affordability);
South African citizen of permanent resident;
Married or single with dependents;
Must not own property;
Competent to contract; and
Able to pay the required R5000 deposit to CTCHC.
The Western Cape Government will provide R88.2 million in institutional subsidy funding, and the NHFC (National Housing Finance Corporation) will provide the balance, on land made available by the City of Cape Town. The NHFC contribution will be used to fund loans of up to R130 000 which the beneficiaries will repay over a 25 year period, with an average monthly instalment of around R1000 per month. The institutional subsidy funding will cover the rest of the cost of the units, and does not need to be repaid.
The project will deliver 850 2 bedroom, 1 bathroom units, costing R206 00 each, and of which the first 20 are completed. Construction began in March 2013, and is scheduled to be complete in February 2015. Currently R41.4 million of the R178.9 million budget has been spent.
Enquiries can be made through the CTCHC at 021 552 1780 or 086 651 9495.
All media are invited
Date: 2 September 2013
Venue: Harmony Village, Mitchells Plain, Cape Town.
Take the N2 from Settlers Way towards Somerset West. After around 7 km, take Exit 14 for the M7. Turn right onto Vanguard Drive. Travel around 11.5 km, then turn left onto Morgenster Road. Travel about 350m, and you will see the development.
For media enquiries:
Spokesman for Minister Bonginkosi Madikizela
Cell : 072 4655 177
Tel: 021 483 6622
Fax: 021 483 3888