The next R20 billion (€1bn) phased development of Cape Town’s V&A Waterfront – planned for the coming 15-20 years – is set to break ground in 2025.
“The V&A Waterfront has initiated the next phase of its growth and development with a compelling vision for its future,” Donald Kau, spokesperson for the Waterfront said. The plans are contained in an application for rezoning submitted to the City of Cape Town and currently open for public comment until September 4.
Why rezoning is required
A basket of rights to develop Cape Town’s neglected docklands was allocated through a zoning agreement for the development of 603 859m2 of floor space 30 years ago. This increased in 2015 with approval to redevelop the Silo district (a mixed-use area including the Zeitz Museum of Contemporary Art Africa, hotels and retail and office space).
The Waterfront’s remaining development rights are mostly within approved plans with limited opportunities for future development, explained Kau. Therefore, the V&A Waterfront has applied to rezone 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 added.
Granger Bay plans
The rezoning will allow the Waterfront to pursue its long-held plans for Granger Bay. Kau said this area of coastal property is key to the future development of the Waterfront, connecting it with the Atlantic Ocean coastline.
To do this, 66% of additional floor space proposed in the Waterfront’s application (about 290 000m2) will be allocated to the Granger Bay development. According to the Waterfront’s rezoning application, Granger Bay 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 – although mixed-use, residential will be the predominant use with an expansive, landscaped public pedestrian promenade and associated recreational spaces creating a new coastal amenity for Cape Town.
The remainder will be allocated to other areas of the Waterfront including the Canal District. Kau said there is “renewed interest and investment” in this district as a result of the development of Battery Park (an inner-city park with leisure and recreational facilities built around the historic Amsterdam Battery).
The Waterfront’s tourism contribution
The rezoning application also details the Waterfront’s economic and tourism contribution: the V&A is one of the world’s leading waterfronts and 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 after the COVID-19 pandemic.
The precinct includes 13 hotels, 450 retail outlets, 80 restaurants, seven museums, an aquarium, historical 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.
