The Cape Quarter Precinct in Greenpoint, Cape Town, will undergo a serious refurbishment by Tower Property Fund – this will include an addition of 55 new luxury apartments in the Piazza. The plan is to create a mixed use development space, and it will be renamed The Old Cape Quarter.
In 2013, Tower Property Fund acquired the Cape Quarter Piazza, Cape Quarter Square and 32 Napier Street – together they will make up the Cape Quarter Precinct. The area includes 5,403 sqm of developable bulk at Cape Quarter Piazza.
Situated in De Waterkant, the precinct is close to the city centre making it a hotpot for residential property.
The property developers are focusing on “greening” – this is a strategy to make the precinct more water and energy efficient. The cost of one bedroom apartments start from R5,454,000; 2-bedroom apartments from R6,969,000; and penthouse apartments are priced at R15,150,000.
When the precinct is complete, it will consist of parking, two retail floors (focused on unique food market offerings), office space and 55 apartments.
Here is an artist impression of The Old Cape Quarter: