Cape Town - Cape Town's Executive Mayor Patricia de Lille has given final approval for the development of a R1bn, multi-use development in Cape Town's CBD - between Riebeeck Square on Buitengracht and the historic Bo-Kaap neighbourhood.
The development is set to provide 4 000m² of retail space, lifestyle activities and 250 residential apartments. The building currently on the site houses a car dealership.
The developer of the property, Jose Rodrigues, told Fin24 it will target a Green Star rating by incorporating environmentally sensitive development and modern energy efficient technology. Construction could start in June or July this year. During the two-year construction phase he expects up to 500 direct and indirect jobs to be created.