Cornubia Presentation: Investment and Development Opportunities

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Cornubia Presentation: Investment and Development Opportunities

  1. 1. 11 CORNUBIA PRESENTATION TO DCCI 07 August 2013
  2. 2. 2 BACKGROUND & HISTORY
  3. 3. 3 POLLUTING THE NATIONAL AIRTIME
  4. 4. 44 Tongaat Hulett = 611ha (48%) eThekwini = 659ha (52%) LAND OWNERSHIP
  5. 5. 5 CONTEXT / FRAMEWORK PLAN
  6. 6. 6  Based on National Department of Human Settlement’s Breaking New Ground initiative (BNG)  KZN & Ethekwini’s 1st sustainable integrated human settlement initiative  Integrated development :  mixed-income development with 10 000 affordable / middle income units and 15000 subsidised units  2.5 mil.m2 of commercial/industrial bulk  Full suite of Social Facilities  Largest phased mega-infrastructure Greenfields project in the province  R25 billion total investment The prime location of the site with Durban together with the diverse mix of uses creates an ideal opportunity for the people within Cornubia and those that surround this area to access a full set of urban and economic opportunity M41 N2 MOUNT EDGECOMBE PHOENIX CORNUBIA OTTAWA WATERLOO
  7. 7. 7 THE OVERALL PLANNING FRAMEWORK Provides new framework roads integrating Cornubia Establishes Open Space corridor systems Provides for some 25 000 homes The proposed Retail Park complements the mixed use nature of Cornubia. WATERLOO OTTAWA MOUNT EDGECOMBE UMHLANGA PHOENIX
  8. 8. 8 SUBREGIONAL CONTEXT CORNUBIA
  9. 9. 9 9 MOUNT EDGECOMBE PHOENIX OTTAWA WATERLOO UMHLANGA RIDGE R102
  10. 10. 10 SOME BASIC FACTS • 1200 hectares, 450 unuseable, 750ha developable • Largest land use is open space • 25 000 residential units (15 000 = low income) • 3.7 million m2 of combined bulk • 80ha industrial platform (max 460 800m2 bulk) • 1.2 million m2 of commercial bulk (offices, retail etc) • 50ha of mixed use development • Mix of housing typologies
  11. 11. 11 PHASE 1 – CORNUBIA INDUSTRIAL & BUSINESS ESTATE & BNG HOUSING
  12. 12. 12 INDUSTRIAL
  13. 13. 13 CIBE LOCALITY PLAN
  14. 14. 14 CIBE ARTISTS IMPRESSIONS
  15. 15. 15 CIBE AERIAL VIEWS
  16. 16. 16 PROGRESS TO DATE • 62/80Ha have been sold (+R 2 billion investment) • Servicing and platforming of the stands well underway • R 202 million spent to date on internal infrastructure • First warehouse to open for trading in November 2013
  17. 17. 17 RETAIL
  18. 18. 18 CORNUBIA RETAIL PARK PRECINCT – LOCALITY PLAN
  19. 19. 19 CORNUBIA RETAIL PARK PRECINCT - AERIAL VIEW
  20. 20. 20 • The intention is to create a high quality retail precinct and supporting activities defined by boulevards, landscaping and buildings that define the edges. •The Plan responds to the prime accessibility and visibility of the emerging corridor creating a positive interface for Cornubia. MIXED USE 2 (HIGH INTENSITY- TOWN CENTRE RELATED USES) GENERAL BUSINESS MIXED USE 1 TOWN CENTRE GENERAL BUSINESS
  21. 21. 21 • 80 000 m2 VALUE DESTINATION RETAIL • SINGLE STAND-ALONE END-USER NATIONAL RETAILER STORES • VISIBLE FROM M41 & ACCESSIBLE TO FUTURE BRT ROUTE
  22. 22. 22 ARTISTS IMPRESSIONS
  23. 23. 23 ARTISTS IMPRESSIONS
  24. 24. 24 HOUSING
  25. 25. 25 HOUSING • eThekwini Municipality the developer & implementing agent; • Project formed part of eThekwini’s slum clearance programme. • 15 000 government subsidised housing over 7 years; • Funding from National Dept of Human Settlements & Provincial Dept of Human Settlements, plus USDG; • HDA provided funding for land acquisition; • Construction commenced on Phase 1A (pilot) and access road – 482 units to be complete by end August 2013;
  26. 26. 26 PHASE 1 – PILOT AREA DESIGN Attached 4m wide Row Housing Attached 6m wide Row Housing 8m Access Street 3m Pedestrian Lanes Central Courtyard as focus of local community identity 6m wide paved street Larger Park Space
  27. 27. 27 PHASE 1B 2 220 units PHASE 1A 482 units PHASE 1A & B (APPROVED LAYOUTS) INDUSTRIAL
  28. 28. 28 PHASE 1A – PILOT AREA DESIGN
  29. 29. 29 11HA, 482 BNG UNITS 2-STOREY FREEHOLD PLS APPROVAL PHASE 1 – PILOT AREA DESIGN
  30. 30. 30 PILOT – CENTRAL COURTYARD AREA
  31. 31. 31 PILOT – STREET SPACES
  32. 32. 32
  33. 33. 33 8/12/2013Footer Text 33 Project brings substantial socio-economic benefits to the region OUTCOMES EM COMM EM HSG T/HULETT SASA TOTAL TOTAL INVESTMENT (R) – Services (R8bn) & Buildings/Land (R17.8bn) R5 160 700 R5 209 330 R14 345 220 R1 126 260 R25 839 510 JOBS - CONSTRUCTION 77 380 78 140 215 180 16 900 387 590 - PERMANENT 10 830 0 25 540 3 460 42 830 RATES – Rm p.a. R56 160 0 R169 930 R11 530 R237 620 VAT (PERMANENT) Rm R487 620 0 R917 410 R87 090 R1 492 120 TAX (PERMANENT) Rm – p.a - PAYROLL R108 300 R7 350 R285 400 R34 560 R435 600 - COMPANY R348 300 000 0 R683 870 R62 210 R1 094 380 TOTAL ANNUAL REVENUE TO GOVT Rm R1 767 600 + VAT ONCE OFF OF R1.5bn
  34. 34. 34 PHASE 2
  35. 35. 35 35 EIA PHASING PILOT
  36. 36. 36
  37. 37. 37 NATIONAL PRIORITY PROJECT & SUSTAINABLE INTEGRATED HUMAN SETTLEMENT INITIATIVE

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