INNER-CITIES
living and co-working buildings and The Barracks are specifically designed to appeal to millennials and Gen Z ’ s . These are set to see increased demand as semigration continues to gain traction ,” says Adriaanzen .
“ These exciting developments and refurbishments combine residential and commercial space with the future of co-working and co-living in mind . Residents are able to eat , shop , play , live and work all without leaving their thoughtfully designed and modern mixed-use building .”
JOHANNESBURG CBD
The country ’ s largest city has struggled to reclaim its former glory in recent years as the pandemic and max exodus of offices only exacerbated pre-existing issues of high crime rates , poor service delivery and dilapidated buildings . However , Adriaanzen is still cautiously optimistic about the potential for millennials to revitalise the area .
“ Johannesburg CBD neighbourhoods Maboneng and Braamfontein have established themselves as a haven for creatives and movers-and-shakers with popular food and craft markets and art galleries . The success of apartment buildings in these areas such as Sontonga Lofts and Jewel City indicate that there are still opportunities for investors to lure young South Africans back to the inner city .”
Johannesburg CBD recently received a cash injection from eight of the country ’ s biggest private investors , including Absa , Standard Bank , FNB , Atterbury and Olitzki Property Holdings . These business giants are upgrading retail inner-city districts by paying for security , cleaning , and maintenance in the area .
44 APRIL 2022 SA Real Estate Investor Magazine