Cosmo City At Cosmo City, in Johannesburg’s northern suburbs, 9 000 of the 12 500 homes have been occupied. Six schools, including a hotel school, and various churches are fully operational. Construction is under way on the first shopping centre. A private medical clinic was opened by the Minister of Health in January 2010. Importantly, Cosmo City has created 21 000 direct and indirect jobs during construction, with estimates of a further 95 000 jobs post construction each year.  The second phase of Cosmo City is aiming to break ground during the second half of 2010, but this may be delayed until early 2011 due to budgetary constraints. This phase will accommodate the informal settlement of Itsoseng on the northern boundary of Cosmo City and involve constructing over 5 000 residential units as well as a school, churches, parks and commercial facilities.

Savanna City 

The development of the Doornkuil site, south of Johannesburg and recently named Savanna City, will break ground in April 2010 after all approvals were received late in the review period. Savanna City is being developed in partnership with the Old Mutual group, which is providing funding, and has the full support of the Midvaal Municipality. This planned development, a R9-billion project, will be larger than Cosmo City. 

Cape Town

In Cape Town, Basil Read is developing another integrated mixed-use residential area in partnership with Garden Cities, the largest private land owner in Cape Town and a non-profit group with an established track record of 90 years of providing affordable housing. Garden City New Town, a 700-hectare property has been identified for low-cost, middle-income and bonded housing. Similar to Cosmo City, the R9,7-billion project will include schools, community centres, clinics, churches, parks, commercial and light industrial areas. Regulatory approvals are beginning to flow and good relationships are being built with stakeholders, including municipalities, government bodies and communities. 

Klipriver Business Park

Site development of the 230ha Klipriver Business Park, a pivotal spine between Johannesburg, Meyerton and Ekurhuleni, is progressing well. Phase 1 infrastructure, including roads and services, was completed in December 2009. The development is being marketed by a professional third party, and although initial response has been good, sales are expected to improve significantly once the economic recovery gains traction. 

Prospects

Basil Read plans to continue creating developments aligned to government’s Breaking New Ground initiative, given the equal importance of housing provision, local job creation and the development of community associations.