Fin24

Joburg unveils scheme to refurbish CBD

2011-04-06 12:07

Johannesburg - Johannesburg mayor Amos Masondo on Wednesday launched the inner city property scheme (ICPS) which is aimed at rejuvenating the central business district.

“The ICPS is an important initiative by the City of Johannesburg, in partnership with the private sector, to address urban decay and accelerate the rejuvenation of the CBD (central business district),” Masondo told journalists.

“The state and appearance of a CBD is an important barometer to determine the ability of a city to attract and retain investment. It is also a reflection of the extent of the advancement to commerce and overall economic development.”

The ICPS is replacing the better buildings programme which had the objective of turning “bad” buildings into “better buildings“, he said.

However, the better buildings programme was only moderately successful. This was because of the lengthy expropriation process, the screening of participants,  and the need to provide transitional housing to people who had been evicted, Masondo said.

The solution to this is the ICPS, which was developed by the department of economic development, to transfer expropriated properties into an inner city property portfolio.

He said broad-based black economic empowerment (B-BBEE) participants will hold the controlling shares.

Thirty buildings are to be refurbished.

Each B-BBEE investor has to invest R5m into the rejuvenation programme, he said.

A panel of B-BBEE service providers will also be created and be responsible for the rejuvenation of the buildings.

“This makes the inner city property scheme one of the most far-reaching broad-based black economic empowerment transactions yet introduced in South Africa - and definitely the biggest in the property field.”

Masondo said the City will transfer dilapidated, abandoned, illegally occupied or hijacked properties as well as vacant pieces of land through a developmental lease with an option to buy.

Once the buildings are transferred they will be refurbished and brought in line with the building code of the City to turn them into viable and productive economic assets, he said.

Comments
  • Gorilla - 2011-04-06 12:31

    Good luck. Unfortunately though, the rot has set in and Jo'burg will never be the same.

  • CynicBelieve - 2011-04-06 12:32

    Too little too late... why all of a sudden now?

  • Dougalan - 2011-04-06 12:34

    Too little too late Masondo. You and your useless ANC council have presided over a city that has gone from 'great' to 'rotten'. With traffic lights that don't work for weeks, potholes by the million, a Jo'burg Connect you cannot get through to and wrong billings by the thousand. Just admit you are totally incompetent and step down. Jo'burg is NOT a world class city like it used to be.

  • Tonsil - 2011-04-06 12:47

    How much is this going to cost the rate payer. How much has been budgeted for tender rigging and bribes

  • ji - 2011-04-06 12:56

    what you going to do with the crime , drug lords , prostitutes and illegals ??? I would never open a business or even go into JHB again to support any business as the city center is beyond repair .

  • daaivark - 2011-04-06 13:01

    Nice idea. I just have serious doubts about the integrity of the process of distributing ownership. This opens up many many avenues for nepotism and abuse. One would like to believe that there will be some form of vaguely credible monitoring. Not sure I do, though.

  • Born To Fish - 2011-04-06 13:12

    If you did not F it up in the first place this would not have been necessary? I can remember when Hillbrow was actually a nice place to stay in! But alas...

  • Mike or Mpho - 2011-04-06 13:24

    I smell an election campaign

  • Paradigm - 2011-04-06 13:40

    I agree

  • chiepner - 2011-04-06 13:42

    I thought they started refurbishing in Joburg CBD 4 years or so ago. Wait, wait......I see. How dumb of me. Just another way of siphoning away tax payers money for a "good" reason and the rich politicly connected few to make huge profits under the guise of B-BBEE. Silly me! Here I was thinking it might actually be something that might contribute positivly to the lifes and well being of the common folk in Joburg. *TSK*

  • chiepner - 2011-04-06 13:47

    O Brother! here we go again. Another attempt to siphon away millions of tax payers rand into the pockets of well connected political party cronies while making some more profit under the BBBEE guise. Really this is becoming pretty old very quickly.

  • DandyLion - 2011-04-06 13:47

    I've got R5 million, where do i invest to get a piece of this pie? Undoubtedly it will only be made available to cronies, who will rape the Land bank, DTI and IDC to get finance and still do a crappy job of restoration???

  • Eric West - 2011-04-06 13:53

    You cannot even get rid of the illegal squatters in the hijacked buildings (thanks to some really weird court decisions), so how are you going to refurbish them? Sounds to me like just another ANC election ploy. LMFAO @ "Joburg - a world class African city"!!

      ANC-FTL - 2011-04-06 16:28

      You mean African Class City just like Umtata

  • splat monki - 2011-04-06 13:58

    Given the greed and corruption that exists in any ANC led venture, this project is doomed to fail. By limiting it to B-BBEE investors only it is already handicapped. Rather than do the work themselves, these investors will subcontract the work out to those who are qualified, which will immediately inflate the cost and making it difficult to achieve a good result. My prediction: 3 years from now - there will be 40 derelict builds I hope I am wrong.

  • BigD - 2011-04-06 14:02

    But Amos is leaving. How will this inner city be fixed, are they willing to throw out all the nigerians and other illigals. Will the crime drop and the cops do their work. Maybe this could work to clean up inner Jhb, but only under DA rule, under the presnt rule - never - as nother has happened to date.

  • splat monki - 2011-04-06 14:08

    Given the greed and corruption that exists in any ANC-Led venture, this project is doomed to fail. By limiting it to B-BBEE investors only it is already handicapped. Rather than do the work themselves, these investors will subcontract the work out to those who are qualified, which will immediately inflate the cost and making it difficult to achieve a good result. When the money runs out - what then? My prediction: 3 years from now - there will be 40 derelict buildings I hope I am wrong.

  • Raal - 2011-04-06 14:19

    Yawn... this has been attempted on numerous past (unsuccessful) occasions. Step 1. Control our borders. Step 2, deport illegal immigrants. Step 3, curb population explosion. Step 4, assist with accommodation to a manageable population. Then re attempt this. Until then, don't waste money.

  • splat monki - 2011-04-06 14:28

    Given the greed and corruption that exists in any ANC led venture, this project is doomed to fail. By limiting it to B-BBEE investors only it is already handicapped. Rather than do the work themselves, these investors will subcontract the work out to those who are qualified, which will immediately inflate the cost and making it difficult to achieve a good result. My prediction: 3 years from now - there will be 40 derelict builds I hope I am wrong.

  • Dave Bester - 2011-04-06 14:32

    I agree..........what was, will never be the same again. TOOOOOOOO late she cried!!!!!

  • Bill - 2011-04-06 14:33

    Why do they let things become destroyed and then want to revamp?? Why was the CBD not kept maintained in the first place. The amount of money wasted by this types of action is unacceptable. The cost to revamp is 10 times the cost of what would have been needed to have maintained the area in the first place!

  • devils-adv - 2011-04-06 15:02

    A complete waste of time! Won't work unless all the illegals are removed and the areas around the CBD are cleaned up.

  • FalseGods - 2011-04-06 16:42

    That's great, I just hope that the infrastructure for upkeep is in place, we always seem to clean things up in this country then forget to keep them clean.

  • revolution - 2011-04-07 10:05

    Election speaking... where is your end-result? Well Done with your current pathetic task, Mayor Lair (Amos) Corrupt of JHB!!

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