The US$68 million project includes a serviced hotel and office tower.
The country is hoping to host the 2027 Africa Cup of Nations.
The development plans cover the period 2022-2040.
Education minister says work will be completed in 21 months.
Planned projects include an intra-city railway and an industrial park.
Centum Real Estate has secured a US$20 million loan.
The loan is for US$30 million.
The sports and culture hub is due to open in early 2025.
A primary school will be built in each of the state’s 305 wards.
Alleyroads is constructing 1,061 affordable housing units in Johannesburg.