The City of Cape Town announced the approval of a R3.9 billion expansion project at the V&A Waterfront on Wednesday, 5 May.

The mixed-use development is expected to create at least 1100 jobs during the construction phase and follows on the heels of two other significant development announcements.

V&A WATERFRONT EXPANSION TO TAKE PLACE AROUND DOCK ROAD

The expansion project will see construction projects take place on either side of Dock Road and the current Battery Park development in the waterfront 10.5 hectare canal district. The district is the thoroughfare for all visitors who enter the waterfront from the city.

“Following the recent approval of the R14 billion Harbour Arch Development and the R4 billion River Club development, which will together see roughly 40 000 jobs being created in Cape Town, the approval today of the V&A Waterfront’s Canal Precinct Plan, will see another significant boost to job creation for Cape Town,” said Executive Mayor Dan Plato on Wednesday.

Plato said lockdowns across the world had a major impact on cities in 2020 and the City of Cape Town is doing its utmost to ensure the local economy “bounces back even stronger than before.” Infrastructure developments such as these create job opportunities, attract investors and “offer significant benefit to our residents,” he said.

The development has been approved by Heritage Western Cape and will not adversely affect the rights of surrounding properties, according to the City. The maximum building height in the eastern part of the development will be capped at 60 metres.

The original development application was amended to incorporate oral submissions made to the Municipal Planning Tribunal during the appeal process.

“The V&A Waterfront is identified as a location that will remain an attractive destination for locals and international visitors for decades to come,” said Plato.

“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.”

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Presh JM Reporter

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