CT’s V&A Waterfront Applies for R20bn Development Upgrade
The V&A Waterfront is in the process of applying for an additional 44 000 square metre in development rights (the majority of which is planned for the Granger Bay precinct) for an R20 billion upgrade.
Donald Kau, communications manager for the V&A Waterfront, says the plan is to develop Granger Bay as a residentially-led, mixed-use development with public and cultural amenities. It also includes the re-establishment of public access to the ocean edge.
He told IOL the plan is to roll out the upgrade in phases over the next 15 to 20 years, starting in 2025. ‘In order to obtain approvals from the authorities, a land use application has been submitted to the City of Cape Town and should be advertised for public comment in the first half of this year.’
Furthermore, the rezoning application will enable the V&A Waterfront to move on to the next development phase. Kau adds that the development of the Silo and Canal districts was recently completed, providing an opportunity to expand the Waterfront’s public spaces and contribute to economic growth.
Source: CapeTownETC