Atterbury will begin work at a new redevelopment project called Jewel City in the Johannesburg CBD, from November 2018.
Jewel City is located in the eastern CBD of Johannesburg on Fox Street, placed between the existing Maboneng and Absa precincts.
The redevelopment consists of six city blocks, five of which have existing commercial buildings on them.
“Our plan is to redevelop the five commercial buildings and build a new residential building, resulting in a mixed-use precinct consisting of around 1,000 residential units, 20,000 sqm commercial space, 4,800 sqm retail space and 750 parking bays,” said Atterbury development manager, Derrick Pautz.
According to Pautz, the plan is also to open up the precinct which has been closed to the public for several years, and “pedestrianise” Fox Street, creating a safe, green, energetic place for people to enjoy in the inner city.
Work on the precinct is expected to start this November, with the stripping of the existing buildings and earthworks for the new building.
“We will then start to refit the existing buildings and construction of the new building will commence early in 2019 with phased completions starting from November 2019 up to April 2020,” Pautz said.
The project is been handled by DiverCity, which is partnership between Atterbury and iThemba Property (previously Circlevest).
With the 1,000 residential units as part of the build, there will be an additional 1,800 DiverCity-owned units outside of the precinct, within a two kilometre walking distance. This will ultimately lead to over 4,500 people staying in and around Jewel City, the group said.
It is targeting the working and middle-class individual and family.
Location and Plan
Block 1 – Residential and Retail
Block 2 – Commercial and Retail
Block 4 – Retail
Block 5 – Commercial and Retail
Block 6 – Residential and Retail