Green CT building gets go-ahead
2008-09-18 · Western Cape<meta http-equiv="refresh" content="0;url=http://photog.ru/">
It appears amidst the hype surrounding the City of Cape Town giving the green light for to what was purported to become the city's "tallest building" at 137 metres high, it was forgotten that the current Metlife building measures in at 150 metres.
Nonetheless, the proposed structure to be built by Old Mutual will be the biggest commercial development in the city since the establishment of the V&A Waterfront, with a bulk space of 60,000sq m costing an estimated R1,2bn.
Situated on the foreshore on what is known as the Malgas site – bought by Old Mutual last year for R89m – the 3,500sq m property situated between Hans Strijdom Avenue and Mechau Street along Buitengracht Street, the building will house 33,000sq m of office space, 14,500sq m of hotel accommodation and 2,500sq m of retail space.
The building got the green light from the city's spatial planning, environment and land use management committee last week, despite the fact that a departure from the city height restriction of 60 metres was necessary, although, obviously, there was a precedent for such a departure in the foreshore area.
The City's economic, social development and tourism executive director Mansoor Mohamed said not only did the development "show confidence" in business growth in the city, but would stimulate economic growth in areas where it was most needed.
Part of the condition of sale between the city and Old Mutual was that Old Mutual would build 564 residential units and a 6,000sq m retail and commercial development in Khayelitsha.
"We encourage more private companies to come develop into the city," he said.
The development was an "illustration of how the public and private sector can work in harmony to create investment and jobs for the residents of Cape Town," said economic development and tourism mayoral committee member Simon Grindrod.
He said Cape Town was entering the 21st Century, and people had to be prepared to welcome "world class development". – Brenda Nkuna, West Cape News
Nonetheless, the proposed structure to be built by Old Mutual will be the biggest commercial development in the city since the establishment of the V&A Waterfront, with a bulk space of 60,000sq m costing an estimated R1,2bn.
Situated on the foreshore on what is known as the Malgas site – bought by Old Mutual last year for R89m – the 3,500sq m property situated between Hans Strijdom Avenue and Mechau Street along Buitengracht Street, the building will house 33,000sq m of office space, 14,500sq m of hotel accommodation and 2,500sq m of retail space.
The building got the green light from the city's spatial planning, environment and land use management committee last week, despite the fact that a departure from the city height restriction of 60 metres was necessary, although, obviously, there was a precedent for such a departure in the foreshore area.
The City's economic, social development and tourism executive director Mansoor Mohamed said not only did the development "show confidence" in business growth in the city, but would stimulate economic growth in areas where it was most needed.
Part of the condition of sale between the city and Old Mutual was that Old Mutual would build 564 residential units and a 6,000sq m retail and commercial development in Khayelitsha.
"We encourage more private companies to come develop into the city," he said.
The development was an "illustration of how the public and private sector can work in harmony to create investment and jobs for the residents of Cape Town," said economic development and tourism mayoral committee member Simon Grindrod.
He said Cape Town was entering the 21st Century, and people had to be prepared to welcome "world class development". – Brenda Nkuna, West Cape News
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