SA Affordable Housing November - December 2018 // Issue: 73 - Page 26

PROJECTS Guests and dignitaries photographed at the showhouse on launch day. to achieve targeted investment points as defined in the Financial Sector Charter. HIFSA invests primarily in housing and housing-related assets within South Africa and aims to achieve the maximum risk-adjusted return possible from this asset class. BASIL READ AT SAVANNA CITY: 44 HOMES Cutting the ribbon, Basil Read CEO Khathutshelo Mapasa. A spacious main room for the 40m 2 unit. The Savannah City project broke ground after the service agreements with the municipality was signed in August 2013. Currently, Phase three of the civil and electrical infrastructure development is about to be finalised. According to a Basil Read spokesperson, there are 10 extensions in the development, four of which townships are already proclaimed and almost complete in terms of house construction. As for the Basil Read Homes, with a project value of about R18-million, the first phase will start with the 44 homes at Savanna City. It is important to make these 44 homes affordable to enable potential buyers to access the FLISP subsidy from government. The brief is to develop a two-bedroom house in the affordable market with the focus on creating spacious living areas and be different to the units that are currently flooding the affordable market. The 44 units are built within a current enclosed area of about 600 residential units with single vehicle access. The current design allows for 40m 2 typology with the possibility of the addition of a third bedroom. Ranging from R405  000 (VAT included), the units are fitted with solar geysers and prepaid electricity. “The municipality is currently busy with a pilot project on the water meters which may roll out to the rest of the development,” says the spokesperson. PROFESSIONAL TEAM Architect: Creative Axis Contractor: Dryden Projects Developer: Basil Read Homes Engineer: Malankane Engineering A second bedroom forms part of the new unit. 24 NOVEMBER - DECEMBER 2018