SA Affordable Housing September / October 2020 | Page 21

PROJECT
shallow swimming fountain (as opposed to a swimming pool
with its inherent risks) which are hugely popular. Elsewhere,
Cosmopolitan’s developments sometimes contain additional
facilities such as schools and shopping centres – but Vorster
explains this wasn’t necessary at Westview as it is a developed
suburb with all those facilities already present within walking
distance.
The location, being a fifteen-minute commute from the
Pretoria CBD, on the border between Gauteng and the North West
Province, as well as adjacent to an industrial area, is prime.
A WELL-OILED MACHINE
Affordable housing is an aspirational market – buyers
want extra features and finishes as far as possible. It is a
fine line to accomplish this while retaining its affordable
character. It is done so by developers such as Cosmopolitan’s
standardisation, tight management, and economies of scale.
Over the years Cosmopolitan has optimised their designs
and even though the appearance and aesthetics may change,
these optimal footprints mostly remain the same, enabling
them to deliver at scale.
“The planets aligned here,” says Coetzee. “We were afforded
the opportunity to establish a security estate, next to an already
developed suburb, surrounded by the scenic Magaliesberg
mountain range. At the same time, we were catering to the
untapped market coming from the North West mines and
factories as well as the Pretoria CBD. Being permitted to develop
a security estate in this highly aesthetic location, which is rare
for an affordable development, combined with the strong market
demand for this specific product culminated in the success of
this project.”
Cost savings were achieved in many ways. One was that the
company has owned the land for more than ten years. Coetzee
explains that the Cosmopolitan model is to buy undeveloped land
ahead of time and wait for the ideal opportunity to develop it.
Municipal approvals on developing land, as well as building plans,
can take a very long time if not managed meticulously. Delays in
approvals and compliance can put the project’s profitability in
jeopardy which can lead to its demise.
This is why this model only works with dedicated, in-house
operators and managers. It has to be a well-oiled machine,” says
Coetzee. “There’s a list of hoops we have to jump through to get
a development like this off the ground including compliance
with regulations and procedures prescribed by the municipal
council and the NHBRC and delays due to external factors such
as strikes, unrest and disruptions. We have to find appropriate
solutions to address our risk on a daily basis. Negotiating
deals with suppliers is an art in itself and without volume, the
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