In the new year, the City’s Economic Growth Directorate will invite public input on a proposal to transform a section of the Athlone Stadium parking area, alongside Klipfontein Road, into a mixed-use development to drive socio-economic growth in the region, Cape {town} Etc reports.
This move is part of the City’s broader long-term vision to upgrade the Athlone Stadium precinct into a vibrant hub that attracts more investment and benefits the community.
According to a media statement, the identified site is an overflow parking area located south of the stadium building and along Klipfontein Road in Kewtown.
The City aims to unlock the potential of Athlone Stadium through mixed-use development to drive socio-economic growth.
A feasibility study identified key areas for revitalisation, focusing on underused spaces. Development will proceed in phases based on market demand.
‘The proposed mixed-use development, which aims to incorporate retail, commercial, and business components, is expected to stimulate economic activity, create employment opportunities, and enhance socio-economic development within the district,’ said Mayoral Committee Member for Economic Growth James Vos.
‘The stadium’s central location is ideal for business and employment opportunities as it is on main public transport routes.’
‘By strategically using the precinct’s infill land parcels to its full potential, including this specific section of the parking area, the City aims to transform the area into a vibrant hub that attracts investment, offers a diverse service offering and stimulates economic activity.’
‘Ultimately, this initiative will strengthen the community’s economic and social foundations, fostering long-term resilience driven by sustained economic growth,’ said Vos.
The development opportunity for the parking area site identified for proposed disposal is expected to be made available to the market through an auction.
‘This approach ensures transparency, encourages broad participation from qualified developers and ultimately allows a fair-market price to be generated.’
‘This competitive process aims to attract high-quality proposals that align with the precinct’s strategic goals, ultimately leading to a development that uplifts and benefits the surrounding area.’
‘We look forward to the public’s feedback when the opportunity for comment comes next year,’ said Vos.
The desktop valuation carried out by Property Management’s Valuations branch has estimated the market value of the identified property to be about R17.6 million (exclusive of VAT and transfer costs).
The funds generated from the sale of the identified site will be used for general city-wide service delivery.
Once details are finalised, the City will inform the public of opportunities to comment on the sale of the identified property for mixed use development via public notices, its official website, and public meetings.
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