The next R20billion (1bn) phased development of Cape Towns V A Waterfront planned for the coming 15-20 years is set to break ground in 2025.
The V A Waterfront has initiated the next phase of its growth and development with a compelling vision for its future, Donald Kau , spokesperson for the Waterfront said. The plans are contained in an application for rezoning submitted to the City of Cape Town and currently open for public comment until September 4.
Why rezoning is required
A basket of rights to develop Cape Towns neglected docklands was allocated through a zoning agreement for the development of 603 859m 2 of floor space 30 years ago. This increased in 2015 with approval to redevelop the Silo district (a mixed-use area including the Zeitz Museum of Contemporary Art Africa, hotels and retail and office space).
The Waterfronts remaining development rights are mostly within approved plans with limited opportunities for future development, explained Kau. Therefore, the V A Waterfront has applied to rezone from a development zone to Mixed Use 3 in terms of the City of Cape Towns Development Management Scheme.
