Saturday, February 28, 2009

Successful launch of housing scheme

By Cindy Witten
28 February 2009


The launch of the multi-million rand social housing project got off to a good start yesterday. The project will be financed by Provincial housing subsidies, National social housing subsidies and from loan funding.

The City of Cape Town says it has signed a five year Public Private Partnership (PPP) agreement with the Social Housing Company SOHCO, Communicare and the Cape Town Community Housing Company (CTCHC).

“We have launched a project that will be worth 450 units, where people earning between R1500 to R7500 per month will be eligible for this. Besides having that earning income capacity, they too have to qualify for grants and subsidies which will make the process easier in terms of affordability,” said Shehaam Sims, Mayoral committee member for housing.

The housing department says that the City will assist in the development and management of these housing projects.

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