A R1 billion, 60 metre-high apartment and retail block is set to be constructed in one of the most iconic areas of Cape Town, Bo-Kaap, despite massive outcry from the city’s residents.
Residents in the historical area, known for its colourful buildings, failed in their two year battle against developers to prevent what they have called a “monster building” from being put up.
Construction of the new development is scheduled to start soon, on the corner of Rose and Strand streets. The mixed-use development will include 117 luxury apartments and a Virgin Active gym.
The building will consist of the following:
- Retail – 15%
- Health Club – 14%
- Residential – 43%
- Offices – 28%
Property firm Pam Golding told City Press that more than half of the flats in the block have already been sold off plan.
A 45 square metre studio apartment in the block is being sold for R2 270 000, while a 59 square metre 1bed/1bath unit is selling for R2 695 00.
The most expensive offering is a 2 bed/2 bath 234 square metre penthouse priced at R14 150 000, while a smaller unit, at 187 square metres with 3 bed/3 baths is priced at R11 250 000.
“This cosmopolitan, mixed-use development offers 117 luxurious apartments, a Virgin Active Health Club, three floors of premium grade offices and two floors of street accessed specialist retail stores and ample secure underground parking,” Pam Golding said.
It said that ‘the architecture enhances the environment with views over the Atlantic Ocean, the City and Table Mountain, showcasing the natural splendour of one of the world’s most beautiful cities’.
Ingenuity Property Investments are listed as the property developers of the controversial building, while architectural firms, Fabian and Kotlowitz Marais are also part of the project.
Why did the city approve the development?
Responding to questions from City Press, Johan van der Merwe, City of Cape Town mayoral committee said that the development ‘aligns with the city’s planning policies for the area in that it will facilitate inner-city densification’.
It said that the scale of the building is acceptable ‘with taller parts orientated along the commercial main road, which is Strand Street, and the smaller less intense components situated towards the back of the development, abutting the Bo-Kaap residential neighbourhood’.
It said that the proposal for the development received heritage-impact approval from Heritage Western Cape.
All images were sourced from the property developer website, here