Cape Town's new framework to accommodate growth
Category Newsletter: Article
The City of Cape Town has an appeal that stretches across a range of demographics and in recent times it has witnessed a surge in students looking for convenient accommodation near The University of Cape Town and those looking to retire amid pristine oceans and luxurious homes.
These two demographics are polar opposites and yet new data indicates that an increased number of these individuals are moving into the Mother City. In fact, industry expert Frank Berkley said that more people are moving to Cape Town than ever before, he added that there have been spikes in the number of people looking to retire in the city and those looking for student accommodation. He made these assertions at a presentation held by KPMG.
It is estimated that by 2032, Cape Town will require 500 000 new dwellings, 1 000 000 sqm of retail space and 4 500 000 sqm of industrial development. To accommodate this surge in population size the city has adopted a new and comprehensive spatial and transport framework to effectively accommodate its growing populace.
The policy document named, Transit Orientated Development (TOD) strategic framework makes recommendations for new developments across the city over the next 16 years. It states that new developments need to be situated around public transport in order for residents to have convenient access to rail or MyCiTi routes.
Location optimisation for future and current residents across all income groups is a priority in the framework. The outcome of this will be reduced travel distances, resulting in reduced transport costs.
Four important tenants in the plan aim to further Cape Town’s efficiency.
Firstly, it aims to transform into a city where pollution is limited owing to “green” developments, the access to affordable and sustainable public transport, a well-integrated urban space and developments that promote social and economic equality.
The framework further states that for these goals to be reached, more residents have to live, work and play in close proximity to trunk routes, either rail or bus. In addition, the land has to be developed in a manner that promotes increased density along these routes and developments must be a right combination of housing, recreational, retail and commercial choices. Residents must also be able to walk or cycle in these new developmental nodes.
The vision of TOD is a city that delivers a high quality of life with developments in easy access to amenities, employment and transport. This will create an inclusive city that values the future of its residents and helps them reach their full potential.
An increase in the efficiency of Cape Town will ensure that it will attract more property and business investments which will serve to boost its local economy.
TOD is thus, an effective developmental tool that will benefit Cape Town’s emerging demographic, regardless of how diverse they are.
Coastal Property Group specialises in residential property in Cape Town for sale or rental purposes.
Author: Coastal Property Group
