City to release Green Point development

The City of Cape Town has taken a step forward in plans for a high-value, mixed-use development in Green Point, moving to initiate public consultations on the proposal. The site, located at 1 Three Anchor Bay along the Atlantic Seaboard, could incorporate both affordable housing and commercial spaces.

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Mayor Geordin Hill-Lewis notes that the site, valued at an estimated R680 million, is among the most valuable tracts of land in the southern hemisphere, situated near prominent landmarks such as the Sea Point Promenade, Green Point urban park, Cape Town Stadium, and the V&A Waterfront. The proposed development aims to generate economic and social benefits while increasing affordable housing options in this desirable area.

The land currently accommodates a range of facilities, including the Sea Point Library, civic hall, sports grounds, an electrical substation, and a childcare center, as well as some vacant land occasionally used for informal markets. The city intends to retain core amenities, such as the library and civic hall, in any redevelopment, with certain sections potentially remaining under public ownership.

In addition, the project will consider the position of existing tenants, with four active leases on-site. These leases are set to expire by September 2025, and tenant retention will depend on specialist studies to be conducted. To assess the development’s impact and viability, the city will also conduct a heritage impact assessment, alongside a socio-economic and market demand analysis to guide the mix of land uses and affordable housing options.

James Vos, the mayoral committee member for economic growth and tourism, emphasized the city’s intention to maximize the land’s market value through future sales and rates revenue. A City Council decision on authorizing the public consultation is scheduled for December 5.

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