EBANDLA

KZN Successful  Alumni 

 

CORNUBIA INTEGRATED DEVELOPMENT  















Located on the north coast of KwaZulu-Natal, South Africa, Cornubia is a strategic landholding situated within the northern urban development corridor of the region’s commercial hub, Durban. As a successful collaboration between Tongaat Hulett Developments and eThekwini Municipality, the project is the first fully integrated and sustainable human settlement in the region, once of three National Priority projects in the country. Fully endorsed by Cabinet, it has won several Govan Mbeki Housing Awards for its innovative approach to higher density lower income housing. This mixed income, mixed use development proposes 10 000 private sector led affordable and middle-income units, 15 000 Government subsidised units, 2.5 million m 2 of commercial/industrial bulk, as well as a full suite of social facilities.

 

To date, eThekwini has managed to develop over 2 000 BNG units, over 600 of which are already fully occupied. Future phases will deliver in excess of 12 500 fully and partially subsidised units for those earning between R0 and R15 000 per month. It is anticipated that this will take 7 years to complete.

 

Tongaat Hulett has since 2011, managed to sell over 600 developable hectares to a range of purchasers ranging from Government, in the form of eThekwini Municipality for the development of lower income housing, as well as other investors for a variety of industrial and commercial (offices and retail) development. Due to the huge demand for and shortage of well-located industrial land, the successful Cornubia Industrial and Business Estate (CIBE) is 90% sold out after having launched in 2012. As a premier estate accommodating light industrial and associated business uses, purchasers include listed property funds, owner/occupiers and endusers, eg Digistics, Blindsmart, and Bidvest amongst others. The recently completed JG Champion Drive, or MR458, is the primary access to this development and is intended in the long term to connect onto the N2 freeway near Blackburn Village.

 

The N2 Business Estate, 24ha of highly visible and accessible was also sold and it is the intention to launch this prime piece of real estate in late 2017. Indications are that Massmart will be developing their flagship Makro on this site within the next 18 months, as there is no room for expanding the Springfield store and Amanzimtoti Makro only really caters for consumers south of Durban. In many ways, Makro in Cornubia could well act as a catalyst and unlock further growth and development in this specific quadrant of Cornubia.

 

Two very successful black economic empowerment transactions have also been concluded over the last 18 months, one for 68 000m 2 of commercial development at the Cornubia Business Hub, as well as 80 000m 2 of general business in a precinct facing the M41 and N2 arterial roads, within the prime site of Cornubia Town Centre. With respect to residential development, investors and developers have opportunity to develop almost 10 000 affordable housing units, ranging from R500 000 up to R800 000. The organisation hopes to drive a development providing close to 2 000 affordable housing opportunities in an area located adjacent to the N2 freeway by 2017, with employer assisted housing underpinning the project as a key concept. This will present opportunities for employers in the area to provide assistance in various forms to their employees to access a home in an area that is close to work opportunities.

 

Cornubia has also been identified as a site for the Athletes Village for the 2022 Commonwealth Games. It is hoped that once the LOC is formed, the site will be finalised.  With all its attributes, good location, close to work opportunities and public transport, it is no wonder that Cornubia has emerged as a destination for investors and residents alike.