Original Source: Ezasegagasini Metro
The development of the Ntshongweni Urban Node is expected to create 35 000 permanent jobs and gener ate R700 million in annual rates for the City. This was revealed by Catalytic Projects Unit Senior Programme Manager Themba Masimula during an Economic Development and Planning Committee Meeting on 10 October. The proposed mixed use development is done by Tongaat Hulett Property in partnership with the provincial Department of Economic Development and eThekwini Municipality.
The mixed use development is strategically located at the N3 and Kassie Road interchange and forms part of the Strategic Infrastructure Projects 2 corridor between Durban-Free State-Gauteng logistic and industrial corridor which has been documented as one of the priority corridors in the National Development Plan. Masimula said phase one of the development is expected to create about 8 500 permanent jobs on completion and generate in excess of R232 million per annum in rates.
“The total real estate value on completion of phase one is R8 billion. In this phase, 19 000 construction jobs are expected to be created. This boost in economic activity and municipal revenue will be beneficial to the area, allowing for an improved quality of life in general,” he explained.
The overall Ntshongweni Mixed Use Development economic impact includes 400 000 short-term construction jobs and R28 billion in new investments.Tags: Catalytic Projects, development, eThekwini Municipality, Highway, Jobs, Kassie Road, Mixed-Use Development, Node, Ntshongweni, Permanent, Themba Masimula, Tongaat Hulett Developments, Upper, Urban