Construction has started on the first building in the R1.2 billion Jewel City redevelopment project situated in the Johannesburg CBD.
The project is being run by investment group Divercity, which aims to combine commercial buildings with affordable residential accommodation to create inclusive and diverse neighbourhoods.
The area, which was closed-off to the public for decades, will slowly be converted into a thriving, modern inner-city neighbourhood with over 40,000sqm of remodelled and newly constructed buildings according to Divercity.
Jewel City will reopen to the public in 2020 as a mixed-use precinct, including 1,200 new residential apartments in its first phase and up to 1,000 in its second phase. The aim is to have the development of all six buildings in the first phase open at the same time in April 2020.
Residents are expected to move into the Jewel City apartments from November 2019 as the first floors of residential development are completed. Upper floors will become available first, moving down the buildings until all floors are finished.
The amenity-rich mixed-use precinct also includes commercial space and parking. There is already good progress on leasing the development’s first 14,000sqm of commercial space, which includes a primary and high school, and medical facilities.