CAPE TOWN – The Western Cape Development Forum says that affordable housing in Cape Town’s city centre makes good business sense.
This was the message by forum chairperson Deon van Zyl at a Central City Improvement District event on Wednesday.
Van Zyl says that only 7000 of the 140,000 people who commute into the CBD actually live in or around the city centre. He says those in need of accommodation in the CBD could be contributing to the businesses in the city.
He has urged the private sector to consider the research that supports the affordable housing model.
“Run the numbers and see what the results are. I’m not giving anyone any guarantee, what I’m saying is that my research indicates that there is a business opportunity and very few people are responding to it.”
Van Zyl says there is a wide spectrum of business opportunities in the affordable accommodation sector.
“Providing housing, leasing out housing opportunities, there is an opportunity to lease space to new retail tenants, to institutions, private educational institutions, etc. So the question really is which part of the business do you want to engage with.”