CITY WAS LUCKY TO SELL FORESHORE LAND FOR SUCH A GOOD PRICE
REFERENCE is made to the kerfuffle over the auction of the Foreshore land purchased by Growthpoint (“Land sale doesn’t add up”, the Cape Argus, October 5).
I believe that in the current economic climate, the City was lucky to sell the land for such a good price, and now we squabble, our greediness exceeding our better judgement?
An amount of R85m is better than no rand, and for how long had the land been standing vacant? Likely ever since the old power station was demolished in 1962
– 56 years ago. Just think of the accumulated rates.
This huge development will bring much-needed revenue to the City, in the form of rates and taxes, and employment in the creation of new jobs, yet Ndifuna Ukwazi says the City must reverse the sale, recoup the losses (how?) and use the land in a way that benefits all the residents of the City (again, how?)
The proposed development will include shops, apartments and a hotel, all creating employment for skilled and unskilled workers, from the moment the first sod is turned
– is this not what our president has asked for, and is trying to achieve?
Plus, according to Growthpoint, this will be a world-class, iconic development that can only enhance Cape Town – Portside, as an example, has added much value to the cityscape, let alone adding to the safety of the CBD.
Tourism is the biggest (and possibly only) growth sector in our beloved country, yet Ndifuna Ukwazi wants to deny the tourists, who come and spend a good penny in the city, accommodation in the CBD, let alone all the businesspeople attending conferences at the CTiCC, taking into account the proximity to the Convention Centre. Pray tell, where can these persons stay? Every 9/10 tourists creates one new job, let alone the valuable contribution made to city coffers.
As it is, this developer pays over R500m p/a in rates and taxes to the city already, excluding what this new development would bring in. And these are actually paid, and not in arrears.
We can be thankful that we still have interest in our CBD, and look at the big picture.
Where were all the naysayers when the CBD was going downhill post-1994? All buildings were being mothballed and there was no interest in any new development or refurbishment in the CBD of any kind? If it were not for the vision of Robert Silke and Old Mutual, the CCID and the CT Partnership, the CBD would’ve gone the same way as those of Joburg, Durban and Pretoria.
However, I note with interest that Ndifuna Ukwazi have not commented on the R200m upgrade of Rygersdal, where the ministers pay a rental of R40 a day for a R4m apartment (Sunday Times, September 30). Think of how many homes could be built for this amount. Plus, I am sure they do not pay rates and taxes on this site.
Talk about inequality!
TERRY GALE Chairperson Exporters’ Club Western Cape