Cape Town’s V&A Waterfront is rolling out plans for its next phase of development. The R20 billion (€1bn) development will take place in phases over the next 15-20 years, with plans to break ground next year.
“The V&A Waterfront has initiated the next phase of its growth and development with a compelling vision for its future,” said Donald Kau, spokesperson for the Waterfront. The plans are contained in an application to the City of Cape Town for rezoning.
Why rezoning is required
A basket of rights to develop Cape Town’s neglected docklands was allocated through a zoning agreement 30 years ago to develop 603 859 sqm of floor space. This was increased in 2015, with the approval to redevelop the Silo district, a mixed-use area that now includes the Zeitz Mocaa, hotels, retail and office space.
Kau said the Waterfront’s remaining development rights were mostly accounted for through approved plans, and limited opportunities remained for future development.
He said, as a result, the V&A Waterfront had applied to rezone its property from a development zone to Mixed Use 3, in terms of the City of Cape Town’s Development Management Scheme.
“This is considered the most appropriate zoning for the Waterfront and its broad mix of land uses,” he said. This application for rezoning is currently open for public comment until September 4.
Granger Bay plans
The rezoning will allow the Waterfront to pursue its long-held plans for Granger Bay. Kau said the area of coastal property was key to the future development of the Waterfront, connecting it with the Atlantic Ocean coastline.
To do this, 66% of the additional floor space proposed in its application (about 290 000 sqm) will be allocated to the Granger Bay development. The remainder will be allocated to other areas of the Waterfront, including the Canal District.
Kau said there had been renewed interest and investment in the district following development of Battery Park, an inner-city park with leisure and recreational facilities built around the historic Amsterdam Battery.
The Waterfront’s application for rezoning states that the Granger Bay area will be developed as a “high-quality public environment forming an integral part of the public pedestrian route between the city, Green Point and Sea Point”.
While it will be a mixed-use development, the application states that residential will be the predominant use.
“The concept for Granger Bay is to orientate development on to an expansive, landscaped public pedestrian promenade and associated recreational spaces, creating a new coastal amenity for Cape Town,” according to the application.
The Waterfront’s tourism contribution
The application for rezoning also details the Waterfront’s economic and tourism contribution. It states “The V&A is seen as one of the world’s leading waterfronts and is one of the big six tourist attractions in Cape Town.”
Over 26 million people visited the Waterfront in 2019. In 2023, it welcomed 25 million people, showing good signs of recovery post-pandemic.
The precinct includes 13 hotels, 450 retail outlets, 80 restaurants, seven museums, an aquarium, historic attractions, 15 conference venues and a mix of tourism and leisure options such as boat rides, water sports, helicopter and walking tours and boat hire. It is also the lessee and operator of the Cape Town Cruise Terminal.
