DEVELOPMENT: Affordable Housing In Melkbos
Recent Western Cape Business News
Nedbank Corporate Property Finance: Cape has announced the funding of a R50 million affordable housing development in Melkbosstrand, situated on the West Coast, on behalf of Asrin Property Developers.
The development, to be known as Coral Heights, will comprise of 114 apartments and 42 garages in six blocks.
Coral Heights will be part of a larger housing development called Melkbosch Village, which will include a mix of affordable housing, sectional title apartments, subsidized housing and upmarket plot and plan homes.
Coral Heights will offer 44 two bedroom ground floor apartments selling at R479 900, 44 two bedroom first floor apartments that will sell for R349 900 and 32 two bedroom second floor apartments selling for R399 900. The floor size of each unit measures approximately 55m² and all prices include VAT and transfer costs.
Construction has commenced and is due to be completed by March 2011.
Melkbosch Village is located on the corner of West Coast and Melkbosstrand Roads in Melkbosstrand and comprises of seven precincts within the village, developed in two phases. Phase one, which is now complete, involved installing services and infrastructure for the entire development, as well as the construction of two upmarket plot and plan precincts and one upmarket apartment block in a sectional title scheme known as Manatoka Heights.
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