R800 million development for Westville

Westville stands to gain considerable economic benefit from a unique residential development to be launched in the next few weeks. Spencer Gore Developments is confident that its R800 million investment in Westwood Estate will boost property values in the area and significantly improve existing infrastructures.

The first phase of the development will offer contemporary apartments selling from R400 000 to R850 000, with townhouses and houses being released in further phases.

"Westwood Estate is the first private, secure residential development in Durban to offer well-priced property to the high-demand, middle-market," says developer Lance Gore. The modern apartments have been designed with open-plan living rooms, designer kitchens, stylish bathrooms and spacious covered patios.

Central to the development - which is situated north of the M13 where it crosses the N2 - is a green conservation belt comprising nearly 11 ha of the 30 ha estate. The existing alien vegetation will be replaced with indigenous woodland suited to attracting wildlife and catering for nature trails.

"Our substantial investment in the area will undoubtedly have a positive economic impact on the surrounding community and we are already seeing evidence of this," said developer Lance Gore.

"We decided to invest in Durban as we believe it has a lot to offer the investor and have received strong support for the development from the eThekwini municipality, in particular from Derek Naidoo, Deputy City Manager Procurement and Infrastructure, and Russell Curtis of DIPA".

Commenting on the development, Naidoo said the city was "proud to have attracted the constructive attention of these substantial South African investors".

"We welcome their large residential and retail development. Their true partnership style with eThekwini Municipality is to be highly commended."

"We are committed to upgrading Westville and boosting the local economy and community," said Gore. "A socio-economic impact study reports that Westwood Estate will provide around 4 000 jobs in the construction phase and 1 400 permanent jobs. "We will also make a significant investment in improving the surrounding infrastructure, with particular emphasis on the road system."

Strategically located to complement eThekwini Municipality's objectives to achieve densification and to reduce commuting costs, Westwood Estate provides easy access to the M13 and the N2 and is also close to schools, office parks and medical facilities. "With a shortage of prime property available in Westville, Westwood Estate intends to offer investment opportunities to first-time property owners, families and retired couples who want security as well as open space in a 'green' environment," said Gore. "Clubhouses, swimming pools and a day-care centre are added attractions."

Also in the pipeline is a modern shopping mall adjacent to the estate that will include upmarket food and clothing stores.

With Westville being one of Durban's older established suburbs, offering convenient amenities, tree-lined streets and a short commute to work, Gore says Westwood Estate is well positioned to deliver excellent investment value.

The launch weekend is planned for September 30 and October 1.