Micro-apartment living is growing in popularity in Cape Town as more people choose location over space.
Although living in a 20 sqm space will send claustrophobics running for the hills, many have embraced this new lifestyle and designed small spaces to be homely and comfortable. Micro-apartments are generally just bigger than a single garage, and smaller than a double garage and include space for a bed, bathroom, and a kitchenette.
The Rockefeller, a new micro-apartment development, has launched in the centre of Cape Town and has already sold more than R220-million worth of units during its first week of opening.
Typically, micro-apartments are popular with millennials, single people, and couples. The smaller spaces attract those who want to reduce their carbon footprint and lead a more environmentally conscious lifestyle.
Launched on 15 March 2018, The Rockefeller has 246 units spanning over 13 floors. These micro-sized apartments range in size from 23 square meters to 44 square meters, with a starting price of R1.26 million.
The building has been co-developed by Narrative (based in Johannesburg) and Ryan Joffe Properties (based in Cape Town itself), and has been designed to meet the demand for accessible and affordable apartment living in Cape Town’s CBD.
The Rockefeller offers “hotel-style living” with a host of premium and modern amenities, featuring a concierge service and the platform for owners to rent their units out without the hassle of attendant admin and management stress.
There is also a restaurant and a bar located within a communal clubhouse with free Wi-Fi. Other facilities offered include a gym, bike storage, a beautiful rooftop pool and a laundry service. CCTV and 24-hour security is also included.
According to developers Narrative and Ryan Joffe, there are no other developments in Cape Town’s CBD at this price point, as the market for micro-apartments is over-subscribed and under-supplied. Prices of property in the CBD are skin high and owning property, as opposed to renting, is largely out of reach for many.
The development has costed in the range of R300-million, and is located on Oswald Pirow Street.
Pictures: The Rockefeller
