The Zero-2-One Tower, to be constructed on the corner of Strand and Adderley streets, is set to become central Cape Town’s tallest building – surpassing the height of the ABSA building.
Local property development firm FWJK have confirmed that the construction will be the tallest structure in the city, with over 620 apartments to be included along with 104 of those earmarked as ‘affordable’ – reportedly selling for less than R800 000 per unit. At present there are no apartments in central Cape Town selling for under R1 million.
Regional director of the firm, Craig Armstrong, has indicated that the apartments ‘would be sold on a first-come-first-serve basis qualifying buyers’. At the time of writing, a monthly household income of R25 000 is required for a loan of up to R800 000 – with a small deposit.
As per FWJK’s website, Zero-2-One Tower will be the tallest building in Cape Town at 42 storeys covering a floor area of 44 000 m² which includes retail at ground level and 624 apartments providing some of the most astounding 360 degree views available in Cape Town. The building is topped off with a viewing deck available to the public which will generate significant revenues for the owners of this development.
Brett Heron, Mayoral Committee Member for Transport and Urban Development, stated that a planning application for the development had been received from FWJK. However, it appears that the plans have not yet been processed or finalized.
Will the development proceed and become a new icon of Cape Town’s skyline? It’s looking very likely at this point.