SA Affordable Housing May - June 2020 // ISSUE: 82 | Page 7

NEWS
@Fourteenth brings colourful
affordable accommodation to
Boksburg CBD
A
project funded by TUHF, @Fourteenth is a bright
new residential complex that offers affordable
accommodation within the Boksburg CBD. The
building was originally a mixed-use structure containing
retail facilities on the ground floor and residential units on
the first and second floors. However, the building had not
seen successful retail undertakings for some time and was
rundown. When the building was put on the market for
sale, local resident and property entrepreneur, Leroy
Slava, recognised an opportunity to buy the building and
convert it to a full residential rental building.
TUHF provided financing to the value of R8.3-million
for purchase of the property as well as construction,
refurbishment and professional fees to complete the
conversion in full. The retail floor had to be converted to
create residential units, and the original residential units had
to be reconfigured from large 100m 2 units to smaller units
of various sizes in order to increase capacity and ensure
maximum impact.
The building showed promise to be economically
sustainable while fully meeting TUHF’s vision of achieving
‘impact through scale’. Besides the Municipality’s Customer
Care Centre, the building is situated close to the Boksburg
Public Library, two schools, retail facilities, several local
businesses and one of Colgate Palmolive’s satellite offices.
This makes it ideally located to have a positive impact on
the area and provide good quality residential space with
access to all the necessary amenities.
The newly renovated @Fourteenth consists of 31
residential units, ranging from bachelor studios to twobedroom
apartments. The refurbishment was completed
recently and opened for tenanting in the first week of February
2020 – and Slava as the owner and landlord is confident that
the new @Fourteenth will offer a good return on investment.
PROJECT FACTS
• Location: Trichardts Road, Boksburg CBD
• TUHF Product: Property Finance
• Original configuration: 9 residential units with retail on
the ground floor
• Configuration upon completion: 31 residential consisting
of 1-bed, 2 bed and bachelor studios.
TUHF
The street view of @Fourteenth.
www.saaffordablehousing.co.za MAY - JUNE 2020 5