Cape Town unveils first affordable housing development site

CAPE TOWN - The site for the first affordable housing development in Cape Town has been unveiled.

It comes a day after Infrastructure MEC Tertuis Simmers announced the more than R900 million mixed-use, inner-city, housing project in his department's budget speech.

Simmers says 840 houses will be built at the Leeuloop Precinct Development, situated in the heart of the city.

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He says the housing project is the first of three that will go to market this year.

"Together, these well-located developments will deliver 3,500 housing opportunities. Through leveraging cross-subsidisation of costs, the Leeuloop development will deliver affordable housing with modern social amenities in a high-rise development through the sale of the open-market units. The tender to procure a developer will be advertised before the end of this month."