Alley Roads (or “the Group”), a leading affordable housing developer, has announced that it has recently broken ground on a R10 billion affordable housing development in Shakaskraal on the KwaZulu-Natal north coast, approximately 7km north of Ballito.
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At 450 hectares and comprising more than 6,000 affordable housing opportunities, Palm View Estate will be the largest estate in the province, offering various finishes and options. Palm View Eco Estate will go on sale soon, with the formal launch of Palm View Country Estate planned for later in the rollout process, offering larger stands, while Palm View Retirement Estate is designed to offer a full retirement product, including assisted living options.
Alley Roads founder and Chief Operating Officer, Ivan Pretorius comments:
“Palm View Estate is unique in that it provides homebuyers with a complete lifestyle offering at an affordable price point that doesn’t compromise on the benefits of secure estate living. Walking and mountain bike trails will maximise the area’s pristine nature sustained by the river that runs through the estate, and residents will also enjoy the benefits of a lifestyle centre offering doctors’ consulting rooms and other amenities, including state-of-the-art security.
“For further convenience, a school and 14,000 m2 shopping mall (forming part of Phase 1) as well as other tertiary facilities are earmarked for development adjacent to the estate, once the estate has been sufficiently developed.”
Sortor Investments
Alley Roads recently acquired the development for R160 million from Sortor Investments and will initially offer four single-story residential options, ranging from 40m², 60m² and 70m² to 80m², comprising two-bedroom, one-bathroom and three-bedroom, two-bathroom apartments. Selling prices of the units will start from under a R1m with building packages to suit family needs.
“The mix of homes has been carefully considered to provide a wide product range for first-time home buyers, as well as young and growing families who are keen on the lifestyle element at an affordable price,” says Senior Development Manager at Alleyroads, John Henry Saunders.
All units will have exclusive landscaped gardens and will be developed according to IFC EDGE or EDGE Advanced credentials, making them zero carbon ready, with up to 40% or more on-site energy savings compared to conventional building methods.
In addition, solar geysers, smart meters, LED lighting and aluminium sliding doors as well as other features will contribute to energy and water savings for the purchaser.
“Because of the IFC EDGE certification and green features, homeowners will qualify for additional discounts on their mortgage rates through the banks’ green bond finance. All of the major banks have already expressed interest in financing prospective homeowners, some of whom will also qualify for further government subsidies through the First Home Finance initiative,” adds Pretorius.
Five to 10 years
He says that Palm View estate will be completed in stages over the next five to 10 years, providing Alley Roads with an ideal opportunity to scale its business in the province over time.
The development of Palm View Estate is expected to generate approximately 10,000 direct and indirect job opportunities. The Group’s policy is to reserve at least 30% of non-specialised labour, although in most instances, this percentage exceeds 70%, with on-site training provided as part of Alley Roads’ Skills Development programme.
A Community Liaison Officer will be permanently employed to represent the local community and Alley Roads.
