Cape Town’s 2015 to 2020 CBD
An R2-billion investment will be made to fund twelve brand-new developments, one of which includes a Zero2One – A building designed to be the tallest building in the mother city.
According to the Cape Town Central City Improvement District (CCID), of the twelve developments, there are five in the planning and initiation stage while construction on seven buildings has already commenced. These are developments that have been planned long beforehand and were announced at the end of 2015.
These massive developments will trump previous construction project endeavors, with the lowest priced project completed in the CBD area in 2015 totaling R987 million, and the highest being R4.571 billion. The CCID Communications Manager, Carola Koblitz, has made a statement about the development, saying that the minimum value the CCID can ascribe to potential projects that are amid their planning phase is R912 million, and approximately R1.1 billion for any developments during their proposal stage. These are said to be ‘minimum valued’, as the CCID relies on data from the project developers that can publicly attach a greater value to the development. Even though investors are not keen on sharing these values, there is an assurance that the investment total for new projects is set to be higher.
Information About the 5 Developments Already Built
- The five developments in planning include a mixed-use building upgrade on 4 Loop Street, which will include a residential node. The project will be valued at R20 million.
- On the corner of Strand and Bree streets will be Mike’s Sports site, which will be redeveloped by the Gera Investment Trust.
- A project of the Telkom Exchange located in lower Long Street on the Foreshore will include a mixed-use building upgrade that is undertaken by Telkom.
- The Capetonian Hotel upgrade at the Pier Place on Heerengracht, which is estimated at R200 million, which will be undertaken by Raya Hotels.
- A residential extension for Urban on Bree, on behalf of Urban On.
- Urban on Bree, a residential extension on behalf of Urban On.
Information About the 7 New Developments Currently Underway
- Zero2ONE is a new development situated on the corner of Strand and Adderley streets. It will be a mix-used development that includes retail, parking, residential, and hotel components.
- FWJK Developments will include a mixed-use upgrade, along with an extension to Cape Town Station in Adderley Street, with an estimate of R1.1 billion.
- FWJK Developments will include a second development, the Roggebaai Centre, which is a new commercial building on the Christiaan Barnard Street.
- The Ingenuity project development proposal for the mixed-use redevelopment of Spindle, situated on the corner of Spin and Plein street, which includes retail, commercial, and residential components.
- Ingenuity project development for the mix-used development of the Culemborg Quarter, situated between Nelson Mandela Boulevard and Christiaan Barnard Street.
- The 28-story redevelopment on 16 Bree street is located next to Portside.
- FKJW Developments for the 36-story Goldies on Buitengracht, located next to Portside.