Property developers FWJK have announced the planned development of over 600 new apartments in and around Cape Town and Umhlanga.
The developments fall under FWJK’s new Lil’ Apple brand which is aimed at offering “New York-style” apartments aimed at young professionals who looking for low-cost options within the City.
The designs of the apartments are based on those typically found in Manhattan, New York, where the market serves the demand from especially young professionals and people working in the City, said FWJK.
The apartment sizes start at around 20m² including balcony, and have incorporated the use of vertical space which includes a fold-up double bed, fold-down dining room table and innovative use of space for storage.
Despite the smaller size one of the most defining parts of these New York Style apartment living developments will be found in the facilities they offer which form part of the development, said FWJK.
These include amenities such as, restaurants co-working spaces, curated retail outlets, boutique coffee brewery, roof terraces where residents can relax and meet up with friends in the building through a next generation community building cell phone app.
Other facilities on offer include a coffee shop, pool bar, health spa and hot-tub, gym, two lounges and a library. The developments also promise the absolute latest in ultra fast fibre technology and Wi-Fi availability throughout each apartment.
“Millennials are scaling down the size and price of the properties they invest in in order to have more disposable income for other things such as travelling and other life experiences and this brought us to the slogan ‘stay small live big’,” said Dave Williams-Jones CEO of FWJK.
“South African cities are no different and Cape Town and Durban are becoming unaffordable where the apartment entry price level is above the R1 million mark.”
The first Lil Apple apartments will sell from R650,000 and upwards, with the first going for R781,000 in Umhlanga – available for delivery in November 2019.