On behalf of its clients, Futuregrowth's Development Equity Fund, has purchased a 12.5% equity stake in Johannesburg urban renewal property group TUHF (Pty) Ltd for R25m which will boost affordable housing in Johannesburg CBD. TUHF provides commercial property finance to emerging and established entrepreneurs to purchase and refurbish affordable rental housing residential buildings in the inner cities of  Gauteng, Durban, Pietermaritzburg, Port Elizabeth and surrounding areas

The big banks may well have backed out of seemingly high-risk inner-city property markets but alternative lenders, private equity funds and institutions are starting to pick up the slack

US-backed private equity fund International Housing Solutions, which entered SA’s affordable housing market in 2008, recently breached the R1bn lending mark.

A less posh version of favourite social spaces like Melrose Arch, the 120 End Street development is within walking distance of 150 000 residents in Hillbrow, Berea, Joubert Park and the city centre.

With arrears written off by the municipality, the inner city is beginning to look attractive

HOPE FOR THE CBD