DEVELOPMENT: Edgemead's Final Chapter
Recent Western Cape Business News
In its 92nd year, and nearly 40 years after the launch of Edgemead, its pioneering Tygerberg development, Garden Cities has announced that the final project on the last piece of available land in the suburb will be a 38-unit sectional title apartment and townhouse quarter, Capstone Gardens.
At the foot of the Tygerberg Hills, Edgemead is on a parcel of land originally acquired by Garden Cities in 1967, and later extended to a total of 340 hectares. At the launch, the suburb became an immediate success for its extraordinary value and high quality. Demand for the homes has always exceeded supply. The prices at Edgemead in 1972 were astounding by today’s standards, and the first house was sold for under R15 000. Some houses, extended and developed by their owners, now nudge the R2 million mark.
Capstone Gardens on the corner of Letchworth Drive and Thomas Bowler Avenue, right at the heart of Edgemead, consists of a three-storey 30-unit apartment building and eight duplex townhouses. Prices start at R1 385 000 for a two-bedroom apartment, inclusive of VAT and transfer costs. The townhouses have three bedrooms and two bathrooms and the apartments two bedrooms and two bathrooms. Each has a garage and open parking bay. The entire development is surrounded perimeter walls and palisades, protected by electric fencing and automated gates. Indigenous water-wise shrubs, trees and ground covers are part of the highly detailed landscaping that includes attractive paving and external architectural features.
‘The project is aptly named, both as the final building block in the construction of Edgemead, and also as the symbol of its success,’ said Garden Cities CEO John Matthews. ‘It is what Edgemead started out to be, and has become. The apartments are solid, comfortable, stylish and spacious with an air of establishment that hallmarks the entire suburb, where even second generations of families are now settling,’ said Garden Cities CEO John Matthews.
‘Edgemead was born at the start of a housing and property boom in Cape Town. Having completed Pinelands, the flagship development at the time, the company decided to replay its success at another point on the peninsula. Eventually, with further land acquisitions, Edgemead fulfilled its planning projections and now houses 3 500 families.’
According to the records from the time, Edgemead was Garden Cities’ first suburb designed to a pre-determined occupation density. This created economies of scale, the benefits of which were passed on to homebuyers.
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