A US $280m River Club development is set to be built in Cape Town, South Africa. The planned mixed-use development will be constructed on a 15-hectare parcel of land. The development design intends to create a 150 000 sqm2 mixed-use space, divided into commercial and housing uses across two precincts. The developer, Liesbeek Leisure Properties Trust intends 31 900 sqm2 to be used for residential purposes.
The proposed development will meet the requirements of inclusivity and integration. It combines various land uses and a mix of income groups by offering market-driven and affordable housing opportunities – the latter of which will be physically integrated with the other residential units in the apartment complexes.
Other parts of the development include: 59 600 sqm2 office space, 20 700 sqm2 retail space, 8200 sqm2 hotel, 4100 sqm2 gym; restaurants, conferencing, school and events space. According to the developer, 20% of the residential floor space will be allocated for affordable housing opportunities. US retail giant, Amazon, will be the anchor tenant, opening a base of operations on the African continent.
The River Club development is envisaged to take place in phases, with construction set to take place over three to five years. The development of Precinct 1 includes mixed used and a floor space of approximately 60 000 sqm2. Precinct 2 will house the Amazon headquarters, which is 70 000 sqm2 of floor space.
Significant boost to Cape Town’s economy
‘The planned mixed-use development will be a significant boost to the economy and the people of Cape Town in the aftermath of the national Covid-19 lockdown. The development will be a significant boost to the Cape Town economy as the impact of the Covid-19 lockdown remains. It is envisaged that 5 239 jobs will be created in the construction phase alone. The project will also create up to 19 000 indirect and induced jobs.
Executive Mayor Dan Plato said that the City has carefully and thoroughly considered all of the submissions and concerns during the appeal process. “We are acutely aware of the need to balance investment and job creation, along with heritage and planning considerations. It is clear that this development offers many economic, social and environmental benefits for the area. We are committed to driving investment to revitalise the economy, which is slowly recovering following the impact of Covid-19,’ he added.
While the development has been approved as a concept, conditions have been attached requiring further stages of approval during which the developer must submit detailed plans on a range of development aspects.