Im­prove­ment project yields re­sults

En­hance­ment ef­forts have sta­bil­is­ing in­flu­ence and boost value of Green Point prop­er­ties

Weekend Argus (Saturday Edition) - - PROPERTY - SATUR­DAY

THE BEN­E­FITS of Green Point’s City Im­prove­ment Dis­trict (GPCID) have ex­tended well into its prop­erty mar­ket, prov­ing to be a sta­bil­is­ing in­flu­ence dur­ing the past few years.

The rates-funded ini­tia­tive has been in op­er­a­tion for over a decade and has pe­riod in­vested more than R3 bil­lion in re­de­vel­op­ment op­por­tu­ni­ties.

“It’s one of the most suc­cess­ful ur­ban im­prove­ment ini­tia­tives in the coun­try and it’s done a huge amount for the lo­cal mar­ket,” says Bren­dan Miller, At­lantic seaboard area prin­ci­pal for Lew Geffen Sotheby’s In­ter­na­tional Realty.

The area used to be plagued by crime, prostitution and drug deal­ing

‘Green Point is one of the most suc­cess­ful ur­ban im­prove­ment ini­tia­tives and has

LOOK­ING GOOD: View over Green Point, where the city im­prove­ment dis­trict has boosted prop­erty val­ues.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.