Seven blocks completed at Green Meadows lifestyle village

Seven blocks completed at Green Meadows lifestyle village

The entrance to Green Meadows lifestyle village in Potchefstroom, where seven apartment blocks have already been completed.

Seven residential blocks of the Green Meadows Lifestyle Village development in Potchefstroom have been completed, along with the gym and other amenities, says Barry Chapman, head of property equity at Sasfin Capital, the developer.

“Of the projected 694 units, 162 have been completed. The demand for quality, affordable housing for students and lower-income residential markets has exceeded the initial expectations of the developers,” says Chapman.

“It was evident that the student housing market had been underserviced in and around the North-West University campus. There are no vacant units out of the 162 units completed. In particular, the provision of a shuttle service, the excellent security at the complex, the gym including with courts and indoor swimming pool and the size and quality of the units have proven to be major draw cards for prospective tenants.”

North-West University has experienced a huge influx of predominantly Afrikaans-speaking students over the past two years, primarily due to fewer tertiary institutions being able to offer lectures in Afrikaans.

The other major factor for the influx was that Potchefstroom was relatively unaffected by the #Feesmustfall protests that took place at most other major universities around the country. Chris Surtees, a co-investor alongside Sasfin Capital, and the lead developer on the project, ascribes the success of the initial take-up to this influx, and to the modern facilities that are in short supply in other university towns around the country.

“Potchefstroom is essentially a very academic-orientated town. Apart from the main North-West University campus, other educational institutions in the vicinity include the Potchefstroom College of Education, the Technical College of Potchefstroom, the Agricultural Centre, CTI Education Group, Potchefstroom Akademie, Potchefstroom high schools for girls and boys and Potchefstroom Gimnasium – all of which require housing for students and staff,” says Surtees.

Chapman says renewable energy generation is a big focus in the Green Meadows development.

“Green Meadows is aiming to offer a total off the grid solution. Solar panels and battery backups are planned, so the development will be equipped to function off the grid for substantial periods during normal operations. Additionally, the development has two boreholes allowing for own water supply and incorporates backup water tanks throughout, which could also be used to utilise rain water,” he says.

In total, the project will house 24 residential blocks, together with a laundromat, and is estimated to be completed by the end of 2019.