STELLENBOSCH’S $64 MILLION LUXURY STUDENT HOUSING PROJECT: A SYMPHONY OF GREED AND PROFIT
The One, a gaudy monument to excess, is finally taking shape in the heart of Stellenbosch, and the first batch of privileged students will be arriving in early 2025 to indulge in the opulence. But at what cost?
Behind the façade of "student development" lies a web of deceit and profiteering, as construction giants WBHO and the developers – a cabal of wealthy investors including Buffet Investments, KLT, Hackprop, Johan van der Merwe, and Yieldex – rake in the dough while students are left with a hefty price tag and a mountain of debt.
The Dennesig Precinct upgrades, touted as a "ground-breaking initiative" in conjunction with the Stellenbosch municipality, are nothing more than a thinly veiled attempt to further gentrify the area and squeeze out low-income residents. The R40-million development contributions will be used to create a "student-friendly" environment, code for "expensive and exclusive", with pedestrian-focused spaces and upgraded streetscapes that will only benefit the wealthy few.
Meanwhile, the student accommodation crisis continues to worsen, with sales at The One skyrocketing and only 20 units remaining. But don’t worry, parents – the developers have got you covered. With the ability to secure your child’s accommodation for 2025 and beyond, you can rest easy knowing that your hard-earned cash is being funneled into the pockets of the wealthy elite.
But don’t be fooled – this is not a investment opportunity, it’s a get-rich-quick scheme designed to exploit the desperation of students and their parents. The One is a symbol of the rot that infects our society, where the pursuit of profit is prioritized over the well-being of the many.
So, if you’re looking to line the pockets of the wealthy and contribute to the erosion of our society, then The One is the perfect investment for you. But if you’re looking for a genuine solution to the student accommodation crisis, then you’re barking up the wrong tree.
Visit the website at www.the-one.co.za; discuss directly with the developer by booking an appointment; or add your child to the rental waitlist by applying for 2025. But don’t say we didn’t warn you.
