The project, which was launched on June 13, comprises a shopping mall christened Crystal Rivers and a residential estate – both located on Mombasa Road, just a kilometre past the Athi River interchange.
Crystal Rivers mall is scheduled for completion by end of 2017, while the two phase residential estate is expected to be completed in five years, with each phase taking two-and-a half years.
The entire development sits on 25.5 acres and includes 270 three and four bedroom houses – to be known as Pedestrian Boulevard – and a 20,000-square-metre lettable area mall that will sit on 5.7 acres.
“The mixed-use development is in response to the growing demand for developments that combine retail, commercial and residential uses while emphasising walk-ability and embracing the live, work and play motto,” the pension scheme says in its regulatory fillings.
The residential units will be sold to the public (prices are yet to be disclosed), with SSPS retaining ownership of the commercial centre.
According to David Gaitho, a director of Amazon Consultants, Crystal Rivers has adopted green architecture and will strictly use labour and materials sourced from the county.
Amazon Consultants are the project’s consultants and they are working together with Landmark Holdings, the main contractor, and other local subcontractors.
Safaricom chief executive Bob Collymore said the investment would help diversify the scheme’s investment and give its members better returns while giving the public a chance to own “some great real estate”.
“With this project, we expect to contribute significantly to the economic growth of Machakos, which has proved to be a leader in development following implementation of devolution,” he said.