According to the mayor's statement, 154 properties will have been released to the private sector for mixed-use development since the the city's inner city revitalisation programme was launched in October 2017.
Monthly rentals for about 6,500 housing units are expected to range from R900-R4,500, excluding utility costs.
Though plans are still in the approval phase, it is expected that 1,500 of these will be for students.
The properties are in Johannesburg Central, Yeoville, Berea, Vrededorp, Fairview, Salisbury, Marshalltown, Wolhuter, Turffontein and City and Suburban.
Mashaba said: "With these developments set to commence soon, 27 developments will be under construction at the same time in the inner city."