Port Elizabeth’s only security estate with homes priced from under R500 000 has been launched. Fourleaf Estate will eventually be the largest estate of its kind in PE with home designs unlike those typically seen in affordable housing in South Africa.
Future homeowners in the estate can expect to pay less towards electricity per month. The houses have been planned to be energy efficient in compliance with the Green Building Council of South Africa’s (GBCSA) new certification system and software, called EDGE. The International Finance Corporation developed EDGE to ensure “Excellence in Design for Greater Efficiencies”. Fourleaf Estate is a pioneer project of the new tool in South Africa.
Construction of Phase 1 of the 323 houses will commence soon on the site along Old Cape Road.
Quite fittingly, this rare concept in affordable housing was presented to an audience of business people, potential homeowners and the media in the redeveloped Tramways Building in Baakens Street, another innovative property development in PE.
Addressing the large gathering, Harold Spies, CEO of the housing development company, Similan Consult, said they were very pleased to offer the community of the Bay “something totally unique” in a housing development aimed at first-time home buyers. “It’s a brand-new approach, with the quality of finishes and a variety of design options that one would not expect to find in this price range,” he said.
The creative way in which the visual information was presented on the night of the launch reflected the innovation of the housing estate itself. The décor concept centred on four aspects: Possibility, Creation, Community and Celebration. These reflect the vision of the developers of the estate, according to the décor designer, Eastern Cape-born Alwijn Burger, perhaps better known as Blomboy.
The catering was by new PE local, Vanessa Marx, Eat Out magazine’s first-ever Nederburg Rising Star, with a menu inspired by African street food.
“The affordability of these homes has put an unusual lifestyle opportunity within reach of more Port Elizabeth home buyers who are looking for value for money, quality of life and security for their families,” Spies added.
It is the same design approach that has earned Similan Properties the SAHF Housing Project of the Year Award for their Karino Lifestyle Estate outside Nelspruit. Like that development, Fourleaf Estate is funded by Old Mutual’s Housing Impact Fund for South Africa, which aims to help fill the gap in the market between those who benefit from government-provided housing and those who have access to bank finance with which to purchase their own homes.
Unlike conventional affordable housing developments, Fourleaf Estate features benefits such as security, a modern and innovative approach to landscaping, parks and community veggie gardens, advanced green initiatives (such as the planned restoration of Parson’s Vlei), Internet connectivity, and modern, clean home designs with flexible add-on options.
Harold Spies encouraged prospective homeowners to find out more without delay, while prices are still within reach of first-time buyers: “When the economy gets tough, the clever homebuyer looks for great investment opportunities that offer value for money as well as secure living.” He added that the first homes at Fourleaf Estate would be ready for occupation in March 2016.