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On the edge of Cape Town’s central business district, the 9,000 square metre New Market Street property in Woodstock is expected to produce approximately 350 open market residential flats and 375 social housing units, according to Cape Town Mayor Geordin Hill-Lewis.

The City has now released central Cape Town land parcels with an estimated yield of over 4,900 affordable housing units, including 2,100 social housing units.

Sites include New Market Street, Pine Road, Dillon Lane, and Pickwick in Woodstock, as well as Salt River Market and the now-tenanted Maitland Mews development, with more in the pipeline.

‘You may recall that the original feasibility study for this 9,000 square meter property envisaged 200 social housing units as part of a mixed-use development. However, as we reach the final land release stage today, that number has risen to 375 social housing units, as part of our commitment to maximise yield working together with social housing developers. These units will be cross-subsidised by retail space and more than 350 open market residential units,’ said Mayor Hill-Lewis.