The Residence is a mixed-use development with 420 affordable housing units and an on-site creche in Cape Town. The development is ideally located close to public transportation and other amenities.
The one and two-bedroom apartments were designed to conserve natural resources. External shading devices, solar hot water collectors, LED lighting, and low-flow plumbing fixtures were installed to reduce the residences energy and water usage. Smart meters were also installed to help residents track their resource consumption.
International Housing Solutions (IHS), a South African private equity investor focused on the development of affordable green housing, developed The Residence with Dalmar Construction serving as the contractor. IHS will retain all units as rental stock to be managed by I.H.S. Property Management. Residents will learn the benefits of living in a green, EDGE-certified unit and will save money each month from lower utility bills.
IHS invests in green affordable housing projects located close to job opportunities, transport corridors, and other amenities such as schools, in South Africa, Namibia, and Botswana. IHS has also certified Devland Gardens, Waterfall Park, Candlewood Crescent, and the Village (Clubview) with EDGE.
The Residence has received final EDGE certification from the Green Building Council of South Africa.