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R800m Three Towers Foreshore project!!!


Women-led consortium invests big on the Foreshore

June 02, 2008 Edition 2

Aziz Hartley

THE provincial government has sold a prime piece of land, 6 000m2 on the Foreshore, for R125 million to a women-led consortium for a R800 million project.

The yet-to-be-named project is to have retail, entertainment and hospitality facilities as well as 1 340 parking bays. It will offer space for big corporations and small businesses, according to developers.

In what Transport and Public Works MEC Marius Fransman has called part of his government's aim to encourage black women entrepreneurs, Lakeside Trading was named the successful bidder.

Fransman said 10 bids were considered and that last month the provincial executive decided on Lakeside Trading because it submitted the highest bid and had satisfied the criterion for black economic empowerment, particularly that of women.

The R800m project, near Artscape and the Media24 building, was the first major one in the city to be tackled by women-led developers, Fransman said.

The consortium comprises Pedal Trading, with a 40% stake, and the Georgio and Mazenethole groups, with 30% each. The three companies each have a majority of black women in partnership, according to Lakeside Trading executive chair Nomphumelelo Pakade.

"We view this project as a catalyst for skills development, job creation and economic spin-offs for the (most) economically marginalised group - women," Pakade said.

"The site will be turned into a (huge) commercial and hospitality development, creating several thousand jobs and opportunities for black economic empowerment entities biased towards women.

"On behalf of many local women who stand to benefit, I want to thank the provincial government for levelling the playing field and making it possible for black women to compete for lucrative tenders such as this Roggebaai development."

Architect Dennis Fabian said three towers were envisaged and would be configured so each could be used for hotel or office space.

Developer George Georgio, who has worked on the Media City development on the Foreshore, said the buildings would become part of a plan to develop the precinct into a 24- hour retail, business and entertainment hub close to public transport.

"Developments in that precinct include part of the Chevron building and Dialogue House. The ladies approached me to assist in development of the new site and, as soon as the legal matters are sorted out, we'll start the project," Georgio said.

Said Fransman: "To be given such a huge development in the CBD is the first profound opportunity for black women entrepreneurs in the city.

"We will be keeping a close watch on the downstream benefits such as skills transfer, use of local labour and sourcing of materials locally. As a department, we'll be revving up this type of development in the CBD to empower women."
 

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Afritect
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don't get excited ldyon this is capetown we're talking about ive got a hunch this will be another low-rise project 14F +- ...bt lets hope im wrong
 

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don't get excited ldyon this is capetown we're talking about ive got a hunch this will be another low-rise project 14F +- ...bt lets hope im wrong
at first I got all excited, but then I thought the same thing. 3 Towers for R800mill won't go very tall.
 

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Karoo Prime
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Jong, they call anything a "Tower" these days.... won't be surprised if they're 7floors or something ridic like that...
 

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2cloudsabove9
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I was going to say s'thing encouraging about women and tall towers but I think Harkeb is right.With three towers being bled out of 800 million we cannot expect anything too grand. All I ask is that they are not identical in height.
 

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Afritect
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the only nice thing we do know is that land is running out in the city bowl it won't be too long before they start building real high-rises
 

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2cloudsabove9
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the only nice thing we do know is that land is running out in the city bowl it won't be too long before they start building real high-rises
I'm not clued up on building codes in CT.Are there any restrictions on height say, because of the mountain or something?
 

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Afritect
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isn't it around the 150m thou i still believe that we should be able to build something around 200m+ on the eastern side of the cbd ps: who really comes to the cbd to look at table mountain , the height restriction should only apply to areas that are historically sensitive e.g. adderley street
 

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Discussion Starter · #12 ·
the project name is not three towers. I just used that until the project name is known. The article mentions three towers.
 

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South Straddie QLD
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Yes there is.
city is devided into zones and each zone and in fact each plot has a bulking factor or FAR (floor area ratio) which determines it potentail populationa nd traffic requirement, out of that comes its services requirement which are drivers for height.
Then you get the height restrictions driven by everything from view lines to civil avaiation issues, but generally CT is restricted to 120m
 

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Discussion Starter · #14 ·
there is a policy/framework being developed now to increase density in the cbd and wider cape town area
 

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2cloudsabove9
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city is devided into zones and each zone and in fact each plot has a bulking factor or FAR (floor area ratio) which determines it potentail populationa nd traffic requirement, out of that comes its services requirement which are drivers for height.
Then you get the height restrictions driven by everything from view lines to civil avaiation issues, but generally CT is restricted to 120m
It makes sense not to go too high purely from an aesthetic point of view.A burj Dubai competing with table mountain would look ridiculous there but honestly, I see nothing wrong with a Shard of London at around 310 meters to form a focal point to the city.
we can only dream i guess...
 

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BITTER HEART NEVER REST
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A 25 floor structure wouldn't hurt and itw will greatly enhance CT's skyline.
 

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isnt the restrictions on most fore shore sites about 60m which means a max of 20 floor if you are very lucky and keep floors under 3m the whole way up.
 

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Annman
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^^ That's a thing of the past now after Portside, if the architects design something iconic and sensitive to the Cape Town skyline, they'll allow a building to go higher.
 

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yeah but on an 800million budget you wont want hold up from major deviations if your trying to get any height in the towers. Also they arnt going to want every building taller cos that sort of makes them all un iconic.
 
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