TUHF and the Johannesburg Development Agency (JDA) together with other partners, including the City of Joburg, signed a memorandum of understanding for a DIU (Development Impact Unit) initiative regards a number of development objectives including developing affordable urban neighbourhoods.
DIU recently held a pilot workshop with new and emerging clients; developers and investors; the JDA; City Transformation and Land Use Management. Our objective was to facilitate and streamline both the development application process and the loan application process for the Inner City Eastern Gateway, along the Perth Empire Development Corridor (the Knowledge Precinct SDZ) and the Louis Botha Corridor (the Orange Grove SDZ); and to have the ‘bank’ and the ‘City’ in the same room, accessible to small scale property entrepreneurs so as to simplify the development application process.
This was a first in Urban Planning and Development history in Johannesburg and possibly South Africa.
The Result? Investors, small scale developers and small scale landlords all gained real knowledge around:
- Understanding of the market & opportunities operating in each area
- Understanding of current basket of rights applicable
- Understanding regards the SDZs ability to fast track approvals
- Understanding various City projects and where the City is spending Capex
- All the necessary requirements for finance application
And TUHF gained new finance opportunities! The feedback we received was incredibly positive, all of those attending indicated that the workshop was extremely useful. We look forward to this being replicated in other focus areas.