Mixed-use Harbour Arch development is on track
The long-awaited approval of the R14bn Harbour Arch development will unlock the vast potential of Cape Town’s Foreshore area, creating the ideal environment for the regeneration of this strategic part of the city, says Pam Golding Properties.
“This is not your usual development. It is the establishment of a new 5.8 hectare precinct for the Foreshore that will not only impact on the desirability for that development, but also for all the developments that are under construction or in the planning stages,” says Laurie Wener, Pam Golding Properties Senior Executive: Developments. “Furthermore, it will establish the harbour as an adjacent precinct to the Waterfront.”
Already, 95% of the residential units in No. 1 Harbour Arch – one of six individual towers – have been sold out, says Mariel Burger, Pam Golding Properties area specialist for the Waterfront and Foreshore. “Part of this development’s appeal is that it is located at the gateway to the city, with convenient access to the N1, N2 and the Northern, Western Seaboard and Southern Suburbs.” There is also the allure of a live-work-play lifestyle that will be enhanced by the retail and lifestyle offering within the precinct.
The residential component of Harbour Arch, starting from the eighth floor, will offer a lofty city feel with some exceptional views. Green features are intrinsic to the organic design of the tower, and there is also a residents’ only rooftop garden with an exclusive swimming pool on the middle bridge top floor. The apartment finishes will be similar to those seen at The Yacht Club and the Melrose Arch development.
The eighth floor will be an entertainment area open to residents and the public, with north-facing courtyard lined with shops, restaurants and coffee shops. There are a few one, two and three bedroom units available in this first phase. A one bedroom apartment on the 21st floor, with a courtyard view is listed for R2.98 million. A three bedroom unit on the eighth floor is selling for R6.56 million while a three bedroom unit on the 23rd floor, with harbour views, is listed for R8 million.
The inclusion of two new hotels operated by Marriott International within the development is an encouraging sign of renewed investor confidence in the city centre, says Wener. Residents will be in close distance of popular attractions such as the V&A Waterfront and De Waterkant. Says Burger: “The profile of the Foreshore has already been elevated with the constriction of the new Christiaan Barnard Hospital and the expansion of the Cape Town International Convention Centre. Now that the plans for the Harbour Arch precinct has been approved, and work on this seminal development is imminent, we are looking forward to the emergence of a new urban precinct with a myriad of lifestyle benefits.”
Inner city living has become the primary choice of people who seek to live closer to their places of work, or within a precinct that offers a range of lifestyle activities within a safe environment. Other Foreshore developments already enjoying success include The Yacht Club, which is strategically positioned on the doorstep of the Foreshore’s financial district.
“With construction on the first tower of Harbour Arch expected to start within the next three months, and occupation estimated for the end of 2021, this is the ideal opportunity to invest in a transformative precinct as it starts to take shape,” says Burger.
Posted by Anel Lewis