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R3,9billion V and A Waterfront expansion gives major boost to ongoing economic recovery in Cape Town <p>A R3,9billion expansion to the V&A Waterfront’s Canal District has been signed off by the Executive Mayor Dan Plato. The major infrastructure development will see a mixed-use development leading to the creation of at least 1100 jobs during the construction phase. Read more below:</p><p>Following the recent approval of the R14bn Harbour Arch Development and the R4bn River Club development, which together will see roughly 40 000 jobs being created in Cape Town, the approval today of the V&A Waterfront’s Canal Precinct Plan, will see another significant boost to job creation for Cape Town. </p><p>While the national lockdown had a major impact on cities across the world in 2020, the City of Cape Town is fully committed to doing everything we can to make sure our local economy bounces back even stronger than before. With these major infrastructure developments and the huge job creation opportunities it delivers, it is clear that investors - both local and international - have confidence in doing business in our city and this will offer significant benefit to our residents.</p><p><strong>Some of the key features of the development: </strong></p><ul><li><div style="text-align:left;">The 10,5 hectare Canal District includes expansion projects on either side of Dock Road and surrounding the existing Battery Park Development. The District provides the first point of contact for visitors entering the V&A Waterfront from the city, creating a seamless link to Dock Road in the Waterfront from the CBD.</div></li><li><div style="text-align:left;">Building height in certain parts of the extension east of Dock Road will be limited to 60 meters - this is considered appropriate sensible planning to increase floor space, given its location in the City Foreshore area, where a number of the tallest buildings are located.</div></li></ul><p><strong>Appeal process:</strong> <br>The Municipal Planning Tribunal heard oral representations regarding the original application and amendments were incorporated. The development will be required to demonstrate compliance with the City’s Tall Building Policy and mitigate any impact on surrounding buildings in the precinct.</p><p><strong>The Executive Mayor confirmed that:  </strong></p><ul><li><div style="text-align:left;">The proposed development will make a significant positive contribution to the economy.</div></li><li><div style="text-align:left;">Approval has been granted by Heritage Western Cape after all heritage indicators have been taken into account. </div></li><li><div style="text-align:left;">The application does not adversely affect the rights of surrounding properties and appropriate design mitigation will be required in the conditions of approval.</div></li><li><div style="text-align:left;">The development seeks to address any adverse impacts to traffic.</div></li></ul><p>The City’s Integrated Development Plan (IDP) and, the Municipal Spatial Development Framework (MSDF) promotes the building of an inclusive, integrated and vibrant City to manage urban growth in a balanced and responsible manner, while improving access to economic opportunities.</p><p>Having considered all relevant legislation, development frameworks and guidelines, this development is not only beneficial for economic recovery and job creation, but it is also one of the key nodes within the city. The V&A Waterfront is identified as a location that will remain an attractive destination for locals and international visitors for decades to come. Significant and sustained investment by the private sector facilitated by the City of Cape Town, will ensure the long-term sustainability of Cape Town.  The concept is therefore, approved.</p><p><br><strong>End</strong><br></p>2021-05-04T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891dGP0|#b276595a-e061-4cf2-9eff-a408761971f7;L0|#0b276595a-e061-4cf2-9eff-a408761971f7|V and A waterfront holdings;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb;GP0|#0ab901dc-08fc-4328-86e9-d67d3a0317b4;L0|#00ab901dc-08fc-4328-86e9-d67d3a0317b4|spacial planning and land use management;GP0|#90b49a62-96e2-436a-9c68-187c9ab33534;L0|#090b49a62-96e2-436a-9c68-187c9ab33534|Mayor10

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