Media Statement - 07 April 2011
Kempton Park-Inner city rejuvenation has received a major boost with nine billion rand set aside for the building of 27000 social housing units as part of government‘s programme to provide affordable accommodation in the cities.
Speaking at the accreditation ceremony of Social Housing Institutions on Thursday, Brian Moholo the Chief Executive Officer of the Social Housing Regulatory Authority said this will ensure decent accommodation in the inner city.
“The issuing of accreditation certificates to these social housing institutions is the first step in ensuring that we provide affordable accommodation in the inner city close to places of work”, he said.
The accreditation of these institutions, he added will bring more stability to the sector and ensure that funding from the banks is made available with ease as the industry is now regulated.
“This is also the first time that accreditation has happened and it brings the much needed credibility to the sector especially as it relates to the good use and protection of the huge state investment into social housing projects. It will also encourage the private banking sector who have been reluctant funding partners in the past.,” he said.
It will also ensure that social housing institutions meet the high standards set in key areas before becoming eligible to access government subsidies to develop social rental housing.
Government has set aside four billion rand while debt funding from the private sector will be five billion rand.
“What we are witnessing today is the realization of our long term objective of ensuring that people who earn between R3500 andR7000 are provided with appropriate accommodation closer to work opportunities in the process improving their economic conditions,” said Moholo.
According to the Director General of the Department of Human Settlements the accreditation of these institutions will ensure that the target set for the next three years of delivering 25000 units is met.
“our view is that we need to accelerate the speed a which we provide this form accommodation as it is not only affordable but contributes to our efforts of ensuring that we provide decent shelter for all,” he said.
Many people, he added were not necessarily looking for a government subsidized house as they already have houses but temporally shelter where they live while they work in the cities.
A Social Housing Accreditation Register was also unveiled to the public and will help in ensuring that set norms and standards are kept within the sector.
Issued by the Social Housing Regulatory Authority
07 April 2011
For interviews with the Chief Executive Officer of SHRA contact
082 885 3378