I can’t even.

Announcing their plan to develop over 600 new apartments in and around Cape Town and Umhlanga, FWJK property developers have branded them “Lil Apple” because, well, they are “New York-style” apartments. Get it?

Oh dear.

This comes after an article we did just the other day on simliar-styled micro apartments, priced at R1 million, set to be built in Woodstock -although they didn’t come with the cheesy marketing angle.

FWJK’s Lil Apple – aimed at young professionals (I am surprised they didn’t use the word “Millennials”) – will serve as a solution to low-cost options within the City, reports Business Tech:

The designs of the apartments are based on those typically found in Manhattan, New York, where the market serves the demand from especially young professionals and people working in the City, said FWJK.

The apartment sizes start at around 20m² including balcony, and have incorporated the use of vertical space which includes a fold-up double bed, fold-down dining room table and innovative use of space for storage.

Despite the smaller size one of the most defining parts of these New York Style apartment living developments will be found in the facilities they offer which form part of the development, said FWJK.

Let’s take a look, shall we?

I don’ think I could deal with pulling my bed out every day, but it’s clear these are styled for those who live outside more than inside their apartment.

The building will also include amenities such as “restaurants, co-working spaces, curated retail outlets, boutique coffee brewery, roof terraces where residents can relax and meet up with friends in the building through a next generation community building cell phone app”:

Other facilities on offer include a coffee shop, pool bar, health spa and hot-tub, gym, two lounges and a library. The developments also promise the absolute latest in ultra fast fibre technology and Wi-Fi availability throughout each apartment.

I wonder if Manhattan has an app. Hmmm.

Apparently, the reason for such small apartments is because “Millennials are scaling down the size and price of the properties they invest in”. Oh, look at that, they did use the M word:

“South African cities are no different and Cape Town and Durban are becoming unaffordable where the apartment entry price level is above the R1 million mark.”

Personally, I don’t think Millennials are choosing to scale down, they’re being forced to.

So what’s the price tag? Well, Lil Apple apartments will start from R650 000, with the first going for R781 000 in Umhlanga.

That’s around R32 500 per square metre – more like a low-cost-to-build property than a low-cost-to-buy.

[source:businesstech]