Housing in Southern Africa April 2016

Housing

R1,5 billion mixed development in Clifton The City of Cape Town has invited tenderers to participate in the purchase and lease of portions of three City-owned erven in the Clifton and Camps Bay area. T he tender specifications have been developed as a direct result of an in-depth public

between Clifton Beach, Maiden’s Cove, Glen Beach and Camps Bay Beach. Thiswill extend the pedestrian network on the Atlantic seaboard. The design also requires that the successful tenderer undertakes an upgrade and renewal of transport and non-motorised transport infrastruc- ture along Victoria Road at a cost of R25,5 million. A further R23 million will be required for the establishment of the Bantry Point Caves boardwalk to enhance public access in this rocky area. The proposed upgrade of The Glenn forest trail and a walk- way along Kloof Road from Vic- toria Road to Kloof Nek will cost R18 million. It is also foreseen that the existing aged steps leading from Victoria Road down to the beaches at Clifton and Glen Beach require an upgrade to the tune of an estimated R2,5 million. The Glen Country Club and its facilities will be redeveloped as part of the overall development. City ap- proval will be required for all of the detailed plans, budgets and construc- tion programmes undertaken with regard to the proposed upgrades. Tender development opportunities includes two single residential parcels of land for the development for 52 Clifton dwellings. The other development oppor- tunities comprise the lease and development of a hotel or apart- ment site (3 500 m² of bulk); a comme r c i a l componen t o f 5 000 m² of bulk (restaurants and retail), and a mixed-use compo-

participation exercise which the City of Cape Town undertook last year. “In particular, we have paid attention to the public calls for the protection of Maiden’s Cove, the upgrade of public infrastructure, and for social hous- ing,” said Deputy Executive Mayor, Ian Neilson. The tender is built on a large-scale public infrastructure investment drive and an obligatory investment by the private sector in return for the development opportunities on offer, an estimated R190 million for the upgrade of existing public spaces and facilities in the area. In response to the public request for social housing and improved com- munity integration, 10% of the finan- cial offer of the sale/lease proceeds by the successful tenderer will be earmarked for future City-developed, social housing projects. These sites still have to be determined. The city will spend approximately R55 million to expand Maiden’s Cove picnic area and to develop under- utilised public assets between Clifton and Camps Bay, similar to Green Point’s Urban Park. “We envisage that ‘Maiden’s Cove Urban Park’ will be transformed to three times its current size to an inclu- sive, environmentally protected, safe and accessible place for all Capeton- ians,” says Neilson. It has been estimated that R30 million will be required for a proposed safe andwell-lit boardwalk

nent (offices/studios/apartments) of 2 250 m² and parking for approxi- mately 700 vehicles. This property lends itself to development opportu- nitieswithout negatively affecting the scenic viewpoints towards the coast and the mountain as it comprises various terraces that are below the level of Victoria Road. Importantly, these specific com- mercial development opportunities will be based on a 50-year leasehold which means that the enhanced and developed asset will revert back to the city. The site is approximately 16 ha in size and it is foreseen that only about 5 ha will be developed. The value of the development is antici- pated to exceed R1,5 billion. Upon completion of the com- petitive bid process, further public participation will be undertaken as a Heritage Impact Assessment, land use and rezoning application and an Environmental Impact Assessment will be triggered. Neilson says, “This tender is a great example of how we are trying to leverage city-owned assets to unlock investment and economic opportunities. ■