Cape Towns V A Waterfront is rolling out plans for its next phase of development. The R20 billion (1bn) development will take place in phases over the next 15-20 years, with plans to break ground next year.
The V A Waterfront has initiated the next phase of its growth and development with a compelling vision for its future, said Donald Kau , spokesperson for the Waterfront. The plans are contained in an application to the City of Cape Town for rezoning.
Why rezoning is requiredA basket of rights to develop Cape Towns neglected docklands was allocated through a zoning agreement 30 years ago to develop 603859 sqm of floor space. This was increased in 2015, with the approval to redevelop the Silo district, a mixed-use area that now includes the Zeitz Mocaa, hotels, retail and office space.
Kau said the Waterfronts remaining development rights were mostly accounted for through approved plans, and limited opportunities remained for future development.
He said, as a result, the V A Waterfront had applied to rezone its property from a development zone to Mixed Use 3, in terms of the City of Cape Towns Development Management Scheme.
