Belhar Gardens, developed by Madulammoho Housing Association, is Cape Town, South Africa’s first social housing project to receive EDGE certification from the International Finance Corporation (IFC). As an answer to both Cape Town’s need for affordable housing and for environmental sustainability, this public-private partnership has resulted in not only energy and water savings that benefit the environment, but also cost savings for residents.
In this public-private partnership, the City of Cape Town made the land available for development, which made it possible to keep costs down, with rents ranging from $53 to $158 per month. Financing for the project came in part from Nedbank, a South African banking company, and from a Green Fund by the Development Bank of Southern Africa (DBSA), a state-owned bank focused on sustainable investment.
Sources: