CITY PARK REDEVELOPMENT , CAPE TOWN
Ingenuity Property Investments , a prominent property and development company based in the Western Cape , has announced a ground-breaking partnership with Kasada Capital Management , an independent real estate private equity platform dedicated to delivering attractive sustainable value across the hospitality sector in Africa .
The collaboration marks the start of a joint venture to transform and re-imagine the iconic City Park building , a landmark made famous for previously housing the renowned Christiaan Barnard Memorial Hospital . Situated in the heart of the Mother City , City Park occupies a prime location surrounded by the bustling streets of Bree , Loop , Longmarket , and Church . Testament to the urban transformation revolution currently sweeping across the city , this strategic project will offer unparalleled accessibility to the reimagined precinct .
The exceptional redevelopment project envisages a vibrant mixed-use scheme that includes a 122-key lifestyle hotel , 40 to 60 branded residences available for sale on a sectional title basis , 8,000m 2 of prime grade offices , 3,500m 2 of retail space , three restaurants , a co-working facility , and over 1,000 parking bays , catering to the diverse needs of the city centre .
The hotel , a focal point of the redevelopment and Kasada ’ s third hotel in Cape Town , is designed to set new standards in convenience and comfort , offering guests an unforgettable experience amidst Cape Town ’ s dynamic ambiance . Complementing this , the branded residences will provide a unique opportunity to experience the best of urban living coupled with the ease of access to an array of amenities and services , and unmatched views of Table Mountain and the city .
The prime office component of the development , situated over levels 8 to 10 of the building , will offer unparalleled views of the Mother City providing its users with access to a unique offering of onsite facilities . Large terraces and internal courtyards will provide a space that ’ s interactive where its users can enjoy all what the building has on offer .
With completion expected in the last quarter of 2025 , the mixed-use redevelopment is projected to bring substantial economic benefits to the region . Notably , it will generate employment opportunities and further enhance the Western Cape ’ s economic growth . This transformative redevelopment aligns with the vision for a thriving and progressive Western Cape province , showcasing the region ’ s potential for sustainable growth and innovation .
“ This partnership marks a significant milestone in our commitment to reshaping the inner city and commerce in Cape Town ,” stated Arnold Maresky , CEO of Ingenuity Property Investments . “ We are incredibly excited about this redevelopment project with Kasada . It underpins our dedication to creating vibrant spaces that resonate with the essence of the city while fostering economic prosperity and community enrichment .”
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