The City of Cape Town’s Council has given its in-principle approval for the granting of long-term rights (25 years) to use, control and/or manage a 7 385 m² gravel overflow-parking site next to the Cape Town Stadium on Granger Bay Boulevard.
The market rental value of this property is estimated to be either an upfront payment of R100 million (excluding VAT) or a monthly rental of R750 000 (excluding VAT).
The City expects the construction value of the site to be approximately R600 million. ‘Importantly, the City will retain ownership of this site as a strategic asset. It is situated in a desirable location near the retail hub of Green Point with good access to public transport. It is considered suitable for retail and commercial development.
The subdivision and rezoning of the site to General Business Subzone 5 (GBS), which allows the development of approximately 29 000 m² in size of space, with a height restriction of eight storeys, was approved by the City in November 2015. It is expected to be developed to provide a medium-rise complex of buildings incorporating parking, ground-floor retail and commercial components.
Read the Future Cape Town statement on the site (22 August 2014) :
This comment may be read in conjunction with the FUTURE CAPE TOWN Position Statement of March 2013, in response to the Business Plan for Cape Town Stadium and Green Point Urban Park.
The two key principles as raised in this report i.e. accessibility and sustainability are reiterated.
Accessibility relates to a spatial, social, emotional and economic connection to the stadium, promoting a sense of ownership to all those who live in the city, while sustainability relates to ensuring that a strategic asset of this scale is operated under a financially sustainable model, aware of the need to concurrently pursue environmental sustainability in any further developments.
The principles form the grounding for the comment to all comments in relation to Cape Town Stadium, and the surrounding precinct, and area.
- Only alternative 1, 2 and 3 for the Granger Bay Boulevard site are supported, subject to the large majority of parking for this site being accommodated within the existing Cape Town Stadium structure.
- Other alternatives presented are taller than the stadium’s maximum height and will introduce significant visual clutter and impact on the architectural integrity of the overall stadium presence.
- The lack of imagination and creative use under Alternative 1 should not be underestimated. The current zoning allows: facilities and activities for public use – and the current state of the site is not due to the zoning but due to the lack of decision making and imaginative use of the space under the current zoning.
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