The City of Joburg is set to begin construction on the first three inner-city buildings marked for development.
"This morning, I had the pleasure of joining the City of Johannesburg MMCs (members of the mayoral committee) for economic development and development planning, as well as the city manager, key stakeholders, and members of the press on a walkabout tour to the first three of 84 inner-city buildings set for development," Mayor Herman Mashaba said in a statement on Thursday.
"This event saw us officially set off on our journey of rejuvenating the inner city through the provision of quality low-cost accommodation for our residents," Mashaba said.
The three properties with a total investment of R204m have been awarded to two developers (EGC Properties and Johannesburg Housing Company) who have a proven track record of affordable housing and inner-city development, according to the City.
This follows estimations that approximately 3 000 people are expected to migrate to Johannesburg every month, placing added pressure on the City to address housing challenges.
"These three projects will also create around 900 jobs during construction. The majority of the completed 384 units will see a maximum rental of R900 per unit per month," Mashaba explained.