Cape Town inner-city parking lot earmarked for affordable housing
The site is located within Cape Town’s CBD Foreshore precinct, next to the City’s Civic Centre complex, and close to major public transport infrastructure.
Image: Supplied
The City of Cape Town has greenlit plans for inner-city affordable housing and mixed-use development of a municipal parking lot at the Civic Centre in the CBD.
The site will now go to Council to approve public participation on releasing the site for redevelopment.
"We are recommending that this parking lot be released by the City to unlock yet another affordable housing development right in the heart of the inner-city. The development should also offer mixed use opportunities, for shops, offices, parking and so on. This is how we are making under-used public assets work for Capetonians with a broader land release pipeline of over 12 000 affordable housing units,’ said Mayor Geordin Hill-Lewis.
The site is currently used as an open-air staff parking facility.
It is located within Cape Town’s CBD Foreshore precinct, next to the City’s Civic Centre complex, and close to major public transport infrastructure.
The report will be submitted to Council for consideration on May 27.
Subject to Council approval, the City will start a formal public participation process, during which residents, stakeholders and interested parties will be invited to submit comments on the proposed redevelopment.
The redevelopment is expected to deliver long-term benefits, including:
- Estimated sale income of R230 million plus R50m annual rates and services revenue to support service delivery
- R1.5bn private sector investment estimated for the CBD;
- 3 500 jobs created in the construction and related sectors during both construction and life cycle of the development;
- Residential opportunities, including affordable housing; and
- Continued regeneration of the Foreshore precinct.