A mixed-use precinct called the Harbour Arch, similar to the Melrose Arch in Johannesburg, is in the works to be developed in Cape Town.
Amdec Group, a development company known for its work in creating the Melrose Arch, tells BusinessDay that the precinct will take up to 5-10 years to complete.
The development company focuses on sustainable structures, and each building is designed with the innovation of urban spaces in mind. Its property portfolio places it as one of the country’s largest private property owners.
The Melrose Arch is a functional and well known multi-use urban space that caters to residential and commercial properties while providing a functional public space.
Amdec’s Managing Director, Nicholas Stopforth, tells BusinessDay that the project is estimated to be a R10-billion investment and there are more structures in the works.
“This is our largest development in Cape Town and we are very excited about it. We launched the first tower for sale off-plan in October 2017, and have almost sold out of residential units. We will begin constructing the tower in February and will then gradually roll out the others,” he said.
Stopforth went on to say that there will be an estimated 220 000m² of space available to let. A total of six towers are scheduled to be constructed for the project.
Harbour Arch will be made up of residential property, office space, a retail section and car dealerships.
Stopforth explains where the Harbour Arch will be located, adding that it will be different to Melrose Arch.
“Melrose Arch has been highly successful for us and is about two-thirds complete. We would like to replicate that success with Harbour Arch, which will use a slightly different model. It is well-known that developments in Cape Town are constrained by geographical aspects, but Harbour Arch lies on one of the best sites at the confluence of the N1 and N2 highways, making it highly visible to anyone arriving in the city,” he says.
The decision of the location was based on the accessibility of the area to other parts of Cape Town.
“This location will also provide quick and easy vehicular access to the airport, the southern suburbs, the northern suburbs, the Atlantic seaboard and the winelands.”
Mixed-use precincts are gaining popularity across the world, with more people wanting their offices and homes to be in the same area to shorten their daily commute.
“As more and more people desire central living, with a range of amenities and minimal travel time, property companies must meet the demand with modern spaces that offer a range of benefits. This is where mixed-use developments come in. These developments are springing up in major cities worldwide,” says Stopforth.
Luxury apartments and hotels will be implemented at Harbour Arch, including two Marriot International-branded hotels.
Picture: Supplied/ Render/ Harbor Arch/ Amdec Group