R3.9 billion expansion at Waterfront gets the nod
THE local economy is getting a boost with a R3.9 billion expansion of the V&A Waterfront’s Canal District.
The plan for private development has been signed off by mayor Dan Plato.
The Canal District is an 8.4 hectare mixed-use development on both sides of the Dock Road entrance to the V&A Waterfront.
The major infrastructural construction will include a mixed-use development, resulting in the creation of at least 1 100 jobs during the building phase, the City said.
“This is a V&A Waterfront-funded development and the approval given by the City makes way for bluechip office development in the area near and where the Caltex garage is located,” said V&A Waterfront spokesperson Donald Kaud.
The latest development follows the approval of the R14 billion Harbour Arch Development on the Foreshore, and the R4 billion River Club development in Observatory. Collectively the projects will create about 40 000 jobs.
“While the national lockdown had a major impact on cities across the world in 2020, the City of Cape Town is fully committed to doing everything we can to make sure our local economy bounces back even stronger than before. With these major infrastructure developments and the huge job creation opportunities they deliver, it is clear that investors – both local and international – have confidence in doing business in our city and this will offer significant benefit to our residents,” Plato said.
The Canal District includes expansion
African News Agency (ANA) projects on either side of Dock Road and surrounding the existing Battery Park Development. The building height in certain parts of the extension east of Dock Road will be limited to 60 metres.
“This is considered appropriate, sensible planning to increase floor space, given its location in the Foreshore area, where a number of the tallest buildings are located,” Plato said.
The Municipal Planning Tribunal heard oral representations on the original application and amendments included. The development will have to comply with the City’s tall building policy and mitigate any impact on surrounding buildings in the precinct.
Approval was granted by Heritage Western Cape after heritage indicators were taken into account.
“Having considered all relevant legislation, development frameworks and guidelines, this development is not only beneficial for economic recovery and job creation, but it is also one of the key nodes within the city. The V&A Waterfront is identified as a location that will remain an attractive destination for locals and international visitors for decades to come. Significant and sustained investment by the private sector facilitated by the City of Cape Town will ensure the long-term sustainability of Cape Town. The concept is therefore approved,” said Plato.