Cape Town to develop a 'second CBD' in Bellville 🔴
Category Property news
Cape Town to develop a 'second CBD' in Bellville 🔴
A new revitalization project was recently launched by the City of Cape Town dubbed the 'Bellville Future City'. With the intention of transforming the Bellville area into a second central business district within the 5 to 10 years, Cape Town Mayor Dan Plato believes in its immeasurable potential.
A former independent municipality, Bellville has been one of the municipalities of the Cape Town Metropolitan Municipality since 2000, only 25 kilometers from Cape Town, with majestic views of the Stellenbosch vineyards and mountains. Used primarily as a "transportation funnel," it has long connected people to nearby industrial and commercial areas, including Cape Town's industrial nodes. Its composition is different from the current CBD, which relies on office workers to generate foot traffic for businesses.
"We want Bellville to be the distribution center but also the innovation center" commented the City's Mayor, Dan Plato.
The Bellville Central area has endured a long period of decline that has had several negative impacts on its attractiveness to investors, however, this project is already beginning to gain traction with the aim of transforming the area into a fully integrated business, transport, and residential hub. Several strategic forums to engage academic institutions, the business sector and civil society have already been set up to address short, medium and long term goals for revitalising the Bellville CBD.
Several planning ideas now shape the project, including the development of an innovation district "to facilitate increased investment in the knowledge economy, and the sharing of strategic information related to growth and policy planning," adds Plato. As well as a business sector that will participate in the rebuilding by directing investments to the innovation district. The Mayor argues that the City's investment will be a catalyst for the development of the Bellville CBD, supported by additional sources from the private sector, the Greater Tygerberg Partnership, Prasa and Transnet.
The project also aims to develop the area and its public transportation. By using the land in a diversified manner, Bellville is less dependent on commercial office space. Vacancy rates -- especially in the retail sector -- remain low when compared to those in the Cape Town City Centre. Other land uses will include tertiary institutions, nearby industrial nodes, and various public sector services in health and social services. "The Bellville CBD will then be inherently resilient to the various economic changes that may occur in the future" Plato concludes.
How this increase in activity, motor vehicle traffic and people will affect the character of the area remains to be seen. Although the increased economic activity in the area will be a win for the City and the business sector, there is worry amongst some local residents that increased traffic, congestion and pollution will all have an adverse effect on the living standard and quality of life of those residing in the suburbs surrounding Bellville. If the area's lifestyle offering comes under too much pressure, it will naturally have a devastating impact on residential house prices.
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Author: Greeff Christies International Real Estate
