Construction work on the Silo District in the V&A Waterfront Precinct is going on well with the completion expected to be in early 2017. This project will cost US $0.12bn.
The Silo District had already 2 major developments and also the Zeitz Museum of Contemporary Art Africa which was under development in the Grain Silo Complex.
According to Paul Levy, the Estate Agency of Pam Golding Properties, four new developments in the Silo District would help on the creation of 35 000m2 mixed use developments. This development will have corporate offices, residential houses, gym, mid-range international brand hotel and more than 1050 parking bays.
According to an economic impact study done in 2012, and currently being updated, the new Silo District will have a gross domestic product contribution of US$2.24bn by 2023.
Levy further noted that No 3 Silo will have 10 000m2 for accommodation and it will comprise 75 luxury one to four bedroom apartments all with environmental sustainable benefits.
Silo No 4 will have a 4000m2 Virgin Active Health Club which will be complete by 2016, Silo 5 will have 13 500m2 multitenant office space and is set for 2017 while Silo No 6 will be 8000m2, 200 room mid market hotel with the main operator to be announced soon.
Due to fact that traffic will increase to the District, there are road works taking place on the Widen South Road while an extension parking bay of 1050 capacity will be added. This will make the total of parking bays to be 2750.
There is also the Silo District bus stop which is connected to Cape Town MyCiti Service and is already being used.
http://www.engineeringnews.co.za/article/va-developments-progressing-well-2015-07-20
