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New development a pot of gold for Pretoria North

The planned Rainbow Junction mixed-use development on the banks of the Apies River to the north of Pretoria will drive economic growth in the area - and holds particular promise for the residential property market north of the Magaliesberg.


?Polla Erasmus is the owner of the new RealNet franchise that opened in Pretoria North
 
So says Polla Erasmus, owner of the new RealNet franchise that opened in Pretoria North at the beginning of November, who notes that the development will inject about R8,7bn worth of infrastructure into the area and is expected to create more than 27 000 sustainable jobs.
 
“Rainbow Junction will take an estimated 10 to 15 years to complete and will comprise high-density mixed residential, retail, and commercial development with a footprint of 550 000sqm on a 140ha greenfield site.
 
“Free-standing residential units and apartments in secure complexes, offices, shops, hotels, a private hospital with more than 150 beds and “clean” industries will all be included in the development, and ample provision has been made for social and recreational facilities.”
 
Proposals for the development include an upgrade of critical infrastructure, such as the creation of a new traffic “corridor” connecting the busy Sefako Makgatho Rd from the N1 highway directly with Rachel de Beer Street in Pretoria North, she notes.
 
"This will alleviate severe traffic congestion in the Poort area and better access, coupled with an influx of more than 27 000 permanent employees, paints a very positive future for the property market in Pretoria North since it can confidently expect an overflow of housing demand from Rainbow Junction."
 
And, Erasmus says, the Pretoria North market currently offers excellent value for money, with flats still available at prices as low as R300 000, and family homes in the affordable range being marketed for between R400 000 and R800 000. Upmarket homes in Florauna, Ninapark and Amandasig, meanwhile are selling at prices of up to R5m.
 
"Prices have moved sideways for some time now and escalation can be expected in future, which makes property here a sound investment at the moment," she says.
 
Erasmus, whose family has close historical ties with Pretoria North, says Rainbow Junction will boost economic activity - and once again tie the Poort area firmly to Tshwane's commercial future.
 
"A century ago the Poort was the gateway to Pretoria's market for many farmers of outlying areas who brought produce to market by ox wagon, and the night before market day they used to outspan near the giant wild fig tree in what is now the Wonderboom Nature Reserve. It seems history has come full circle, with the Poort once again opening a gateway to growth for the city," she says.
 
Erasmus was an aviation operational consultant for two decades before returning to her roots in Pretoria North and joining the real estate industry, in which both her parents were very successful for many years. She qualified as an agent three years ago and recently decided to open her own agency under the RealNet banner. “It made much more sense to join a group with a sterling reputation for service and a proven business platform than to try to reinvent the wheel," she says. 
 
"It also means that I can concentrate on client service from the word go. I am very excited at the prospects for my old “home town” and look forward to the opportunity to give something back to my community."


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