The development, in Umhlanga known as Cornubia, is proposed to provide some 50 000 homes of which 20 000 are proposed for subsidised housing (by the Municipality in partnership with the Province as well as the HDA who view Cornubia as a key strategic project) and the balance for a wide range of affordability levels.
A multi-billion rand project, Cornubia, as a mixed use and mixed income development, spanning over 20 years, will alter the skyline of Umhlanga in the future. Cornubia will be the home of the next major industrial area in the north, with approximately 90ha coming on to the market in 2011. This will be a key industrial development with linkages to the new international airport.
The residential development at Cornubia will comprise fully subsidized houses for the indigent (those that qualify for a provincial housing subsidy), affordable housing for low-income housing (rental) as well as middle to high-income bonded housing.
With a gross area of 240ha, Cornubia’s commercial and mixed use developments will make provision for almost 1.5 million m² bulk. These commercial opportunities will be located close to the N2 freeway and proposed Cornubia interchange, as well as along the M41 corridor in the vicinity of the existing South African Sugar Association (SASA) and Research Institute (SASRI).
Planned as an environment-friendly and eco-sensitively designed light industrial development, Cornubia’s Industrial and Business Park will attract substantial interest from both developers and investors alike.
In all I expect the Cornubia Development to further enhance the development and upliftment on the north coast of KZN. Umhlanga is set to become the next big centre for activity.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment