DEVELOPMENT: Link To Open Up Major Investments
Recent Western Cape Business News
The subdivisional approval of phase 1 of Rivergate, the newly named development, comprising of some 125 hectares has now been obtained. The development of this phase is through a joint venture between The Milnerton Estates, landowners, and the Aska Property Group.
The key to unlocking this opportunity is the R82m Sandown Road link to the N7. This road link provides access to the Rivergate development and will make Parklands and the future Sandown development more accessible than ever before. Work on the new road link, including a road-over-rail bridge, has already commenced with completion due by December 2013.
The new Sandown Road link will unlock the potential of the areas both West and East of the existing railway line and will open up “exciting new commercial and retail opportunities, extensive tracts for light industrial development and residential development opportunities in both the middle and more affordable housing sectors”, according to Tony Clarke, marketing director of Aska Property Group.
The first phase of the Rivergate project comprises of some 30 ha of light industrial land including an 11 ha Business Park, a commercial belt of land straddling Sandown Road of 14 ha and a residential and related use parcel of 24 ha to the south of Sandown Road.
The ‘railway precinct’ of 20 ha is the last portion of land within this first phase of approval. This precinct is situated nearest the road-over-rail bridge and straddles the railway line providing access to Atlantis from the south. The precinct which is presently being planned will include a railway station, taxi ranks and parking and incorporates land uses for an institutional node for facilities like libraries, clinics, a Magistrates Court and Police Station.
The new Sandown Road link is expected to greatly assist in easing the traffic flows in and out of the greater Table View and Blouberg-strand areas and will provide much needed access across the Diep River, connecting the R27 and N7.
The contract for the road has been funded by the joint venture, Garden Cities and the City of Cape Town. The City is an integral member of the team and its contribution is towards the cost of facilitating the future bus rapid transport (BRT) plan, better known as the MyCiti Bus project.
If it performs like Parklands, the fastest growing area in the Western Cape if not the country (2000 – 2002) and also developed by the joint venture – one is sure to witness boom times here yet again.
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