FINANCE
“ As people increasingly move to the inner cities to reduce their living costs and / or gain access to better facilities and amenities , the opportunity to invest in innercity rejuvenation and refurbishment projects increases .”
real benefits in transformation through diversity , accessibility , and economic inclusion . We , therefore , expect to see more investment in mixed-use developments in inner cities that are underpinned by this ethos and include retail , entertainment , educational and faith-based facilities rather than purely housing-focused developments .
This approach stimulates micro-economies in the immediate surroundings of a development so that urban densification largely has a net positive fiscal impact . It not only stimulates economic growth but attracts people that are more likely to be able to pay for services , rates , and taxes . These projects also require less upfront investment , as they make use of existing infrastructure that can be refurbished or improved .
People are already investing in inner cities , financing important urban development to create urban densification projects . It is a phenomenon that is already shaping our urban areas . The market trend is extraordinarily positive , and for government and private investors , the opportunity lies in helping to ensure that these investments are regularised and contribute to inclusive wealth creation .
ALL IMAGES © SAAH | RORY MACNAMARA
30 MARCH - APRIL 2021 SAAffordHousing saaffordablehousingmag SA Affordable Housing www . saaffordablehousing . co . za