Thursday, December 08, 2005

City cuts funding for N2 Gateway Project

The City of Cape Town has cut its budget for the ambitious N2 Gateway housing project, apparently because planned allocations from provincial and national government did not materialise. According to Business Day, the city has reduced its overall spending by more than 30-percent, and will also be cutting its budgets for water and electricity services, as well as traffic and roads services. The N2 Gateway project was initially projected to build six-thousand-600 units over the next 18 months, but this will now be reduced to two-thousand-200 units.

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