Multibillion-rand investment sets new property development benchmark


STEYN CITY LIFESTYLE RESORTThere is no development on the continent that compared in size and infrastructure to Steyn City
HOUSING OPTIONS The one-, two- and three-bedroom apartments range in size from 74 m2 to 149 m2 and will cost from R1.65-million to R3.9-million
The R6.5-billion first phase of Africa’s largest residential development, to date –Steyn City Lifestyle Resort – was launched this month. The 2 000 acre development is located north of Fourways, in Johannesburg.
Phase 1 comprises 93 apartments and 19 cluster homes, with a further 45 cluster homes to be built off-plan. In addition, six show homes have been completed and 220 freehold stands have been released onto the market – allowing owners to build their own homes.
The one-, two- and three-bedroom apartments range in size from 74 m2 to 149 m2 and will cost from R1.65-million to R3.9-million.
High demand for this type of residence has prompted the developers to build an additional 25 apartments over the coming 18 months. These will be sold off-plan.
Meanwhile, the cluster homes on offer at Steyn City range in price from R6.2-million to R8.4-million and comprise mainly four-bedroom options, with an average floor size of 350 m2 on stands varying from 400 m2 to 600 m2.
Speaking at the official launch of the development, Steyn City Properties CEO Giuseppe Plumari stated that there is no development on the continent that compared in size and infrastructure to Steyn City.
“This will allow residents to enjoy an unparalleled array of leisure activities and create a unique quality of life that has long been out of the reach of most South Africans, owing to high walls, the need to commute and security concerns,” he added.
Infrastructure Investment
The developers have provided substantial financial support for government’s master planning for the region, which has resulted in the fast-tracking of regional infrastructure upgrades.
The developers invested R300-million in the road upgrade along the R511 that now features three lanes in each direction from Uranium street through to Erling road, with plans to extend this through to the N14.
“We are currently partnering with government to upgrade Cedar road to include two lanes on either side, from Fourways Life Hospital through to Steyn City Cedar Gatehouse. The Gauteng Transport Department has issued a tender for the [project] and the appointment of [a] contractor is imminent. Steyn City will make a bulk contribution of one-third of the total cost of construction,” Plumari noted.
Steyn City is also partnering with government to extend William Nicol drive through to the N14, which is already under way.
“We have also given the commitment that, once we reach specific volumes, we will partner with government on additional infrastructure upgrades,” he added.
Cycle and pedestrian lanes have also been added from Mulbarton street to the Erling street interchange in response to local residents’ requests for better safety and transport in the area.
The developers also financed a major sewer upgrade at a total cost of R73.9-million. This has included an upgraded bulk sewer pipeline from Dainfern to a new pumpstation and the construction of a new R35-million water reservoir on the north-east portion of the resort that will store up to 30 megalitres of water and is part of Johannesburg Water’s master planning for the region.
“Steyn City will be equipped with technology and security systems that will feed off a fibre-to-the-home (FTTH) network, light years ahead of standard copper cable offerings,” Plumari pointed out.
The developers are determined to offer residents freedom of choice regarding data service providers and made a substantial upfront investment in the last mile of communications into residents’ homes, on which any service provider could “piggy back”.
The FTTH infrastructure will support ‘triple-play’ services for residents and city stakeholders, including voice, Internet and television, which could all be transmitted on a single fibre cable. Wi-Fi hot spots will also be located at strategic community gathering locations.
Steyn City’s ‘connected community’ culture will be supported by a Web- and app-based portal, giving residents access to city notifications, as well as their personal utility billing and Internet use statistics.
Renewable Energy
Steyn City views piped gas as an essential alternative power source and has installed two bulk gas storage farms to provide a comprehensive piped gas service to the precinct and its homeowners. “Solar power options will be available to all homeowners, providing them with the opportunity to reduce their carbon footprint,” said Plumari.
The development embraces the use of modern, energy efficient lighting schemes using low-energy light-emitting diode lamps for street and landscape lighting. Automatic switching is also included to limit energy use and waste.
Backup electricity generators will also be available to all Steyn City apartment residents.
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