NEWS
Greening the inner-city through massive-small impact
By Samson Moraba , Chairperson of the Board at TUHF
There is much debate in the market – from science
fraternities to professional services firms and environmentalists – on the benefits that green and sustainable building principles promote .
TUHF , a member of the Green Building Council of South Africa ( GBCSA ), has long been committed to investing in South Africa ’ s inner cities and has adopted the green agenda from inception . Through its membership , engagements with international and multilateral funding agencies , TUHF has direct exposure to the latest developments in green and sustainable building practices .
As commercial property developers adopt green building as best practice more frequently , residential developers are beginning to do the same . Property entrepreneurs in the inner-city are no exception .
A powerful driver has been a rampant increase in utility costs in the country . Sqiniseko Mbatha , Financial Analyst at TUHF says , “ Between 2006 and 2016 , electricity prices have increased by more than 300 %. This has pushed our clients , and the market in general , to look at mitigating the risks of these spiralling costs .”
Although previously building green was considered ‘ too expensive ’, the reality today is that the technology has become more readily available and this is driving costs down with the return-on-investment benefits of incorporating green technology becoming clearer . For example , tenants are increasingly considering the cost of utilities when making their overall rental cost decisions and this gives them a more comprehensive affordability comparison .
“ TUHF standardised this green build approach and formalised it with the introduction of the Luhlaza ( meaning ‘ green ’) Initiative .”
“ More and more property entrepreneurs have explored ways in which to contribute to sustainability by creating green assets using things such as heat pumps , solar options , and LED lighting . Our financing has benefited from this with the creation of more resilient building assets . This has become the impetus behind the need to come up with a more formalised green practice ,” Mbatha continues .
In 2018 , TUHF received technical assistance from one of its funders to develop a concept of what a green inner-city building would look like . TUHF then started developing a methodology for what this building strategy would encompass and act as best practice for all green initiatives going forward . In collaboration with several institutions , TUHF standardised this green build approach and formalised it with the introduction of the Luhlaza ( meaning ‘ green ’) Initiative .
Mr Samson Moraba , Chairperson of the Board at TUHF .
TUHF
MASSIVE IMPACT , ONE UNIT AT A TIME
While buildings might look the same , the focus is on extending the economic life of a building through green initiatives . Properties that have these elements in place are more resilient and hold their value for longer . This in turn bodes more long-term value for investors and developers .
“ We are looking at people who want to shore up their business with long-term resilience ,” Mbatha says . “ Today , adding green elements to a building has become financially feasible . For example , five-years ago LED lighting was considered
4 JANUARY - FEBRUARY 2021 SAAffordHousing saaffordablehousingmag SA Affordable Housing www . saaffordablehousing . co . za