A new low-cost housing scheme between Pam Golding and the government will revolutionise housing in Johannesburg.
Ronald Ennik, managing director of the Gauteng division of Pam Golding Properties, announced that the company will make residential real estate history in Gauteng, and South Africa, by marketing, on sole mandate, homes at Felapeng.
Felapeng is a ground-breaking residential property project.
The revolutionary new R250million development, in upmarket Fairland, in northern Johannesburg, is the product of a unique collaboration between the government and the private sector.
The project will ultimately see people renting, at low-cost (about R1500 a month), local government-owned units interspersed and integrated with luxury homes in the R1,5 million- plus bracket.
This "inclusionary" housing development will consist of 187 dwellings, built on 9,3ha of Johannesburg Metro Council- owned land known to the locals as the "Jerusalem site".
Thirty percent of the estate, about 56 homes, will be developed as social housing units and sold back to the council for its Johannesburg Social Housing Company to rent to tenant families.
The rest will be marketed by Pam Golding Properties.
"Because of its unique marketing mix, Felapeng presents a completely new and exciting marketing challenge that requires an out-of-the-box marketing approach," says Andre Dippenaar, head of Pam Golding's specialised development projects division in Gauteng.
"Though the project will clearly attract buyers from all sides of the 'Rainbow Nation', we have developed a distinct marketing strategy that is also geared towards middle-class black home buyers who are ready to move out of township homes but who find the prospect of living in traditional suburbia unattractive," Dippenaar says.