I have attached the draft policy on Inclusionary Housing approved by the Mayoral Committee during December 2018, but not yet brought into force, for your consideration.
I received this from Mark Blanckenberg, a partner in conveyancing at Schindlers who specializes in developments.
Several property developers, town planners and attorneys (including our own Andre Pienaar) have been liaising with COJ about this for a while now. I would like to acknowledge their efforts and contribution to the revised policy, which is broadly thought to be more reasonable than the last version.
As you may have heard, the COJ has taken several stabs at drafting a policy for inclusionary housing within the city.
The previous versions of the policy were challenged in great numbers as it was anticipated that they would have had a detrimental effect on the developer industry within the city.
In December last year, the COJ released its latest policy which contains far more detail on the workings of the project and provides options a developer may take in order to comply. It is expected that this latest policy will be accepted in its current form.
The policy will only be applicable to developments that contain 20 or more residential units in a new development. Please see clause 3.1.1 in this regard.
The policy is expected to come in to force during February. Please see clause 3.1.2 and note the inclusionary housing will be triggered by land development applications, as such the policy will not affect existing, approved land use rights.
In the event that you were to start a project that had 20 or more residential units, I would expect option 3 or 4 in the policy to affect you.
There are still details that the policy is vague on but it is clear that the main incentive it has provided to a developer to comply with the policy is an increase in FAR.
Draft Inclusionary Housing Policy:
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