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#Manhattan Mews - 477 units - 5F - Gateway, uMhlanga | Under Construction
Housing 'gap' finds Umhlanga
14 May 2012 - eProp - IHS
Having invested in more than R7.8 billion worth of projects across South Africa’s major cities, private equity funder International Housing Solutions (IHS), is set to roll out its first 'gap' residential development in the province of KwaZulu-Natal
Construction will soon start on the first affordable housing development in upmarket Umhlanga near Durban. The Mews, comprising 477 sectional title units, is likely to grab the attention of the market for various reasons:
“IHS got involved in this development as it will be a first of its kind for this area. There has not been a substantial amount of development in the affordable space in Durban like we have seen in Gauteng and the Western Cape in the last 12 months,” says Joel Rosen, deal originator at IHS.
“The development is especially exciting since it will form part of the Gateway precinct in Umhlanga, giving an opportunity to those who would previously not have been able to afford property in the area, to own an apartment,” Rosen says.
Gap housing, or affordable housing, services the section of the market which does not qualify for free RDP homes but which also does not earn enough to qualify for a bond at the mid-to-higher end of the market. The affordable housing sector has risen to prominence lately, following President Jacob Zuma’s announcement that R83.5 billion in housing subsidies would be made available to enable low-to-mid income earners to take a step onto the housing ladder.
Rosen says that The Mews will have similar amenities to other, more expensive developments in the area, including pool areas. This is set to make units attractive investment options.
“As demand for affordable housing units continue to outstrip supply, we have no doubt that demand for this attractive development will be insatiable,” he says.
The development, constructed by Avoca Developments, will consist of multi-storey blocks with a focus on a lifestyle living environment. Units will vary in size from units of 37m2 up to units of 55 m2.
It will also include 61 ‘inclusionary units’ to incorporate a social housing aspect. Units will be launched in July 2012, and the first phase is expected to be ready for occupation within 12 months.
“We are very excited about being able to expand SA’s affordable housing footprint to KwaZulu-Natal,” says Rosen.
“As was confirmed in the recently released Social Impact Report on the Derived Social Benefits of Occupying Affordable Housing in South Africa, tenants and owners of affordable housing units built by IHS in the past 2 years have overwhelmingly reported improvements in their quality of life and access to amenities.
“We are proud that we will be able to expand these opportunities to another important SA economic hub, and that we can continue to grow sustainable communities that improve the quality of people’s lives and transform their options from mere shelters into owning an asset that generates wealth by increasing value.”
14 May 2012 - eProp - IHS
Having invested in more than R7.8 billion worth of projects across South Africa’s major cities, private equity funder International Housing Solutions (IHS), is set to roll out its first 'gap' residential development in the province of KwaZulu-Natal
Construction will soon start on the first affordable housing development in upmarket Umhlanga near Durban. The Mews, comprising 477 sectional title units, is likely to grab the attention of the market for various reasons:
“IHS got involved in this development as it will be a first of its kind for this area. There has not been a substantial amount of development in the affordable space in Durban like we have seen in Gauteng and the Western Cape in the last 12 months,” says Joel Rosen, deal originator at IHS.
“The development is especially exciting since it will form part of the Gateway precinct in Umhlanga, giving an opportunity to those who would previously not have been able to afford property in the area, to own an apartment,” Rosen says.
Gap housing, or affordable housing, services the section of the market which does not qualify for free RDP homes but which also does not earn enough to qualify for a bond at the mid-to-higher end of the market. The affordable housing sector has risen to prominence lately, following President Jacob Zuma’s announcement that R83.5 billion in housing subsidies would be made available to enable low-to-mid income earners to take a step onto the housing ladder.
Rosen says that The Mews will have similar amenities to other, more expensive developments in the area, including pool areas. This is set to make units attractive investment options.
“As demand for affordable housing units continue to outstrip supply, we have no doubt that demand for this attractive development will be insatiable,” he says.
The development, constructed by Avoca Developments, will consist of multi-storey blocks with a focus on a lifestyle living environment. Units will vary in size from units of 37m2 up to units of 55 m2.
It will also include 61 ‘inclusionary units’ to incorporate a social housing aspect. Units will be launched in July 2012, and the first phase is expected to be ready for occupation within 12 months.
“We are very excited about being able to expand SA’s affordable housing footprint to KwaZulu-Natal,” says Rosen.
“As was confirmed in the recently released Social Impact Report on the Derived Social Benefits of Occupying Affordable Housing in South Africa, tenants and owners of affordable housing units built by IHS in the past 2 years have overwhelmingly reported improvements in their quality of life and access to amenities.
“We are proud that we will be able to expand these opportunities to another important SA economic hub, and that we can continue to grow sustainable communities that improve the quality of people’s lives and transform their options from mere shelters into owning an asset that generates wealth by increasing value.”
1 - 20 of 23 Posts
I can already hear the residents of those adjacent multi-million rand mansions freaking out....
in prestondale? they have been made aware of the high volume housing developments next door to them for ages. Also prestondale is not a very expensive part of umhlanga, you are looking around R2,5m there.
Yes they wont be happy, and have been campaigning to keep there suburb the way it is for years. to this date there is only one entry/exit point to the suburb. With this phase of the new town centre, 6 new entrances into the town centre will be created. its all been approved so they really should have moved if it was so critical to them.
Yes they wont be happy, and have been campaigning to keep there suburb the way it is for years. to this date there is only one entry/exit point to the suburb. With this phase of the new town centre, 6 new entrances into the town centre will be created. its all been approved so they really should have moved if it was so critical to them.
Nice density, but I can't say I'm a fan of the design at all 
uke:
uke:
its gap housing... dont expect it to be revolutionary in design. its designed to make areas more mixed/inclusive. expect to see this type pf housing going up in sandton, claremont etc in time to come to let poorer people to live in these areas as well. developers in the future wont get their developments passed if they do not include these type of units within the development
Houses in Parkview in Joburg can be found at R2.5million (needing a bit of love). I would freak out if they built something like this in Parkview. Prestondale, I might just join the NIMBY clan for you! On the other hand, it is nice to have some 'affordable' options in the area. Very very meh design though. Maybe it will look better in reality? I just find that these developments look very dusty and neglected after a year or two, because the developers are not really aiming for quality (although, I am hopefully wrong in this case - in Durbs shoddy worksmanship and fittings really fall apart almost immediately). Holding thumbs. But not a fan.in prestondale? they have been made aware of the high volume housing developments next door to them for ages. Also prestondale is not a very expensive part of umhlanga, you are looking around R2,5m there.
Yes they wont be happy, and have been campaigning to keep there suburb the way it is for years. to this date there is only one entry/exit point to the suburb. With this phase of the new town centre, 6 new entrances into the town centre will be created. its all been approved so they really should have moved if it was so critical to them.
^^ show me quality design for inclusionary housing anywhere in SA and i will be surprised. Its not wow, but it is in the NTC and Tongaat will have very strict specifications that they will have to stick to.
Whilst I don't expect affordable accommodation to be revolutionary in design, it doesn't have to be ugly by the same token. There are a myriad small changes that could be made to these that wouldn't break the bank and would result in them at the very least not aesthetically hampering the area.its gap housing... dont expect it to be revolutionary in design. its designed to make areas more mixed/inclusive. expect to see this type pf housing going up in sandton, claremont etc in time to come to let poorer people to live in these areas as well. developers in the future wont get their developments passed if they do not include these type of units within the development
The Mews applications
Hi guys
This is the first time I'm hearing about gap housing. How does one go about applying for one of these units?
Hi guys
This is the first time I'm hearing about gap housing. How does one go about applying for one of these units?
i dont think this visually hampers the area.
To get one of these units i would contact the developers directly
To get one of these units i would contact the developers directly
Fears allayed over new uMhlanga development
CONCERNS were voiced following the announcement of a ‘low cost housing development’ in uMhlanga, however, developers clarified it was ‘gap or affordable’ housing done by private developers.
18 May 2012 | Lauren Anthony
The site for The Mews is on uMhlanga Ridge on Meridian Drive, is an area zoned high density residential.
Christopher Horn and Thomas Hancock of Avoca Developments, the constructors hired by International Housing Solutions, the private equity funder of the development, explained The Mews was for people wanting to live in uMhlanga who couldn’t afford the high-end properties.
“There will be 477 units priced between R400 000 and R800 000, 20 per cent below the current market prices,” explained Hancock.
“Construction will begin in June this year with three separate phases being completed in about two years,” he explained.
The units would range in size from 37 square metres for a studio apartment to 55 square metres for a two bedroom.
Hancock explained, as per eThekwini Municipality’s stipulations, 15 per cent of the units, integrated with the apartments, would be Progressive Lifestyle Units or ‘inclusionary homes’ which must have a selling price of R500 000 or less.
“There are specific criteria for the buyer and the title deed restriction will apply for 10 years on the selling price,” he said.
Joel Rosen, deal originator for IHS, said this was the first of its kind for the area.
“There hasn’t been a substantial amount of development of the affordable space in Durban like we’ve seen in Gauteng and the Western Cape in the last 12 months,” said Rosen. “It will form part of the Gateway precinct, giving an opportunity to those who would previously not have been able to afford property in the area.”
He explained ‘gap housing’ services a section of the market which doesn’t qualify for RDP homes but also doesn’t earn enough to qualify for a bond.”
Ward councillor, Heinz de Boer, has shown support for the development.
"After consultation with the developers I can only support the venture. There is a dire need for affordable housing, not just in the region but in KZN. There is hardly any middle ground for small families, single people or first time home-owners. They either have to settle for really cheap, and mostly nasty, low cost homes or try and find the cash for the an average priced suburban home that usually starts at R1-million,” said De Boer.
“I would also like to allay any fears. The typical low cost homes we are all familiar with will not be built in uMhlanga. The architectural style will be in keeping with the surrounding region, and I believe this development will be a significant boost to the local economy.
"The development not only complies with town planning regulations, but has been approved by Tongaat Hulett Developments who sold the land to the developers.”
http://www.looklocal.co.za/lookloca...9&Fears-allayed-over-new-uMhlanga-development
CONCERNS were voiced following the announcement of a ‘low cost housing development’ in uMhlanga, however, developers clarified it was ‘gap or affordable’ housing done by private developers.
18 May 2012 | Lauren Anthony
The site for The Mews is on uMhlanga Ridge on Meridian Drive, is an area zoned high density residential.
Christopher Horn and Thomas Hancock of Avoca Developments, the constructors hired by International Housing Solutions, the private equity funder of the development, explained The Mews was for people wanting to live in uMhlanga who couldn’t afford the high-end properties.
“There will be 477 units priced between R400 000 and R800 000, 20 per cent below the current market prices,” explained Hancock.
“Construction will begin in June this year with three separate phases being completed in about two years,” he explained.
The units would range in size from 37 square metres for a studio apartment to 55 square metres for a two bedroom.
Hancock explained, as per eThekwini Municipality’s stipulations, 15 per cent of the units, integrated with the apartments, would be Progressive Lifestyle Units or ‘inclusionary homes’ which must have a selling price of R500 000 or less.
“There are specific criteria for the buyer and the title deed restriction will apply for 10 years on the selling price,” he said.
Joel Rosen, deal originator for IHS, said this was the first of its kind for the area.
“There hasn’t been a substantial amount of development of the affordable space in Durban like we’ve seen in Gauteng and the Western Cape in the last 12 months,” said Rosen. “It will form part of the Gateway precinct, giving an opportunity to those who would previously not have been able to afford property in the area.”
He explained ‘gap housing’ services a section of the market which doesn’t qualify for RDP homes but also doesn’t earn enough to qualify for a bond.”
Ward councillor, Heinz de Boer, has shown support for the development.
"After consultation with the developers I can only support the venture. There is a dire need for affordable housing, not just in the region but in KZN. There is hardly any middle ground for small families, single people or first time home-owners. They either have to settle for really cheap, and mostly nasty, low cost homes or try and find the cash for the an average priced suburban home that usually starts at R1-million,” said De Boer.
“I would also like to allay any fears. The typical low cost homes we are all familiar with will not be built in uMhlanga. The architectural style will be in keeping with the surrounding region, and I believe this development will be a significant boost to the local economy.
"The development not only complies with town planning regulations, but has been approved by Tongaat Hulett Developments who sold the land to the developers.”
http://www.looklocal.co.za/lookloca...9&Fears-allayed-over-new-uMhlanga-development
^^This building is the future of SA accomodation. I believe in the next 10-20 years detached and semi-detached properties will become extinct as SA cities become much more denser and efficient. I like it...
I recommend contacting Christopher Horn and Thomas Hancock of Avoca Developments.
a website is now up and running and the name has been changed to Manhattan Mews
www.manhattanmews.co.za
![]()
www.manhattanmews.co.za
What is the point?
I contacted the developers and "apparently only 50 units of the 2 bedrooms were at that price. The rest are almost R100 000 more. The guy said that in 2 days people came and bought out almost a whole block. So what purpose does this serve? Some investor will buy all the units and sell it at the same price as the rest of Umhlanga property.
Just isnt fair...
I contacted the developers and "apparently only 50 units of the 2 bedrooms were at that price. The rest are almost R100 000 more. The guy said that in 2 days people came and bought out almost a whole block. So what purpose does this serve? Some investor will buy all the units and sell it at the same price as the rest of Umhlanga property.
Just isnt fair...
Its a private developer, what do you want them to do? its freaking uMhlanga, not Phoenix or Inanda, the market dictates. and heck some of those units, while appearing cheap, were not at only 30m2!
Welcome to the free world? Life isn't fair. If people are willing to pay the inflated investor prices then no one will.I contacted the developers and "apparently only 50 units of the 2 bedrooms were at that price. The rest are almost R100 000 more. The guy said that in 2 days people came and bought out almost a whole block. So what purpose does this serve? Some investor will buy all the units and sell it at the same price as the rest of Umhlanga property.
Just isnt fair...
1 - 20 of 23 Posts
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