On Wednesday, 16 October 2019, the Executive Mayor, Cllr Herman Mashaba, had the pleasure of breaking ground to mark the construction of the Ellis Park Student Village (EPSV) Development.
The mayor was joined by MMC for Economic Development, Cllr Leah Knott, and MMC for Development Planning, Cllr Reuben Masango, and executives from of ADOWA Property Developers, the company responsible for the project.
This is the first phase of a 2000-bed student village, with a total project cost of R500 million. First Phase will be completed in December 2020 and the second Phase in December 2021.
This development fits well into the overall vision of the multi-billion rand Inner City Rejuvenation Programme, which seeks to roll-out affordable student accommodation near places of learning and transport nodes, among others, and is a prime example of the kind of investment facilitated annually by the City.
The Ellis Park Student Village will be located only a few hundred meters from the University of Johannesburg’s Doornfontein campus and is expected to alleviate the demand for affordable and secure accommodation.
Delivering a key note address, mayor Mashaba said: ‘‘I am a strong believer that this City can be rebuilt. Brick by brick, precinct by precinct. We want this City to be a place where our people can work and play.’’
He said the fact that companies like Adowa Property Developers are spending money to develop the Inner-city bears testament that the private sector believes in the vision to rebuild the City.
“When we took over office in 2016 investments where about R4,7 billion. This past financial year we attracted R17,3 billion. We are now aiming for R25 billion,” he said.
This a great project for future generations, which is why this administration committed its self to reclaiming the city. A first in the history of Johannesburg, 135 buildings have already been awarded to the private sector with an estimated investment value of R32 billion.
MMC Knott said the department will continue creating a favourable environment for business to thrive.
“Our department facilitate trade an investments in the City we unblock red tape, clear hiccups and ensure that opportunities are open for all. We are need of secure and affordable student and we thank Adowa properties for such an incredible initiative,” she said.
MMC Masango said careful planning the City is starting to bear fruits: “We are working with Economic Development through trade and investment desk which is able to unlock some of the challenges faced by developers. We are now seeing a lot of developers coming on board to say, we want to invest in the inner-city.”
Sisa Rafuza, CEO of Adowa said: “Purpose build student housing creates an enabling environment for students to succeed and thrive. Studies done in international markets have shown that living in purpose-built student accommodation in a student’s first year increases the chances of them finishing college by around 12.0%. Adowa is assisting South African youths, some of which are indigent, to reach their full potential with quality, secure and financially accessible NSFAS/DHET accredited student beds across the country. EPSV is our first step”.
Also speaking, Lusanda Kali from the Public Investment Corporation (PIC) said: ““The PIC is proud to be associated with the EPSV. This development is evidence of PIC’s commitment to investing in social infrastructure that improves the lives of South Africans and contributes to broader economic growth.
“The EPSV development will contribute to the revitalisation of the City of Johannesburg, whilst providing secure accommodation to students enrolled at the University of Johannesburg. We are pleased with our partnership with the Adowa Property Developers Team, who are committed to providing quality student accommodation in critical and previously uncovered nodes of higher education in the country.
“We are grateful to our clients – the Government Employees Pension Fund and the Unemployment Insurance Fund – for entrusting the PIC with a progressive mandate that seeks to achieve both financial and social returns.”