Real Estate Investor Magazine South Africa July/August 2019 | Page 14

MASTER INVESTOR Thus, Bellville has been identified as one of the priority areas where we will either invest in the improvement of existing public transport infrastructure or provide new public transport infrastructure to ignite urban renewal, economic growth, and job creation. The purpose of transit-oriented development in this instance is to create a sustainable living environment and economy in the Bellville CBD – initiated by the City through investment in public transport and followed on by private investment in new developments in the immediate vicinity and surroundings of the public transport infrastructure. It will take a concerted effort from all stakeholders – from the City, to other spheres of government, the private sector, business, takes over passenger rail in a structured and incremental manner as this will allow the City to plan ahead, to acquire the necessary skills, and to develop the additional capacity needed to ensure the long-term sustainability of the service. community organisations and residents – to realise the vision as set out above. How we work together and cooperate will have a profound impact on the timelines for the regeneration of Bellville going forward,” said Plato. Speaking on how this will fit in with Bellville’s role within the Spatial Development Framework, Mayor Plato points out that, “Bellville falls within the Voortrekker Road Corridor Integration Zone (VRCIZ) which hosts the business districts of Bellville, Maitland, Parow, Goodwood and Salt River. There is significant potential for renewal and redevelopment given the excellent location of the VRCIZ and the diverse range of land uses in terms of residential, commercial, retail, industrial and public facilities. The central areas have enormous potential for employment and skills development, but is in need of regeneration. We will focus on the spatial restructuring of the VRCIZ by addressing the public transport capacity constraints and freight movement along Voortrekker Road; and the inefficient and unproductive use of public land.” The City has advertised for the appointment of a multi- disciplinary team with specialist skills and experience in railway operations and engineering, as well as business re-engineering and development, track and structures, rolling stock, signalling, concessions, electrical systems and stations. Once appointed, the multi-disciplinary team will assist the City with the investigation into the feasibility of the assignment of the urban rail function to the City, and on the basis of this study, provide a detailed plan for an incremental and sustainable devolution of the urban rail functions. First, the specialists will evaluate and set out the options for assignment – thus, whether the rail function should be assigned to the City in part, or in whole. This initial phase will establish options for the City’s business model, the financial and other risks, and the resource acquisition, inclusive of the personnel and other assets. The initial phase will be subject to review and approval by Council. Once approved by Council, this will be followed up with a detailed business plan for the assignment. In light of the City’s plans to take over the Metrorail network there is the potential to unlock the Bellville/Parow area, particularly for the 400,000 plus daily commuters in in this area but the Mayor feels it is way too early to make any predictions about the possible impact. “The City Council on 26 October 2017 approved the Business Plan for the assignment of the urban rail function to the City of Cape Town. The approved Business Plan proposes that the City 12 JULY/AUGUST 2019 SA Real Estate Investor Magazine The assignment of the urban rail service will have long-term implications for residents and commuters. It will affect our long- term spatial planning and our local economy. It will, importantly, also have an impact on Prasa, being the rail operator, its divisions and personnel, and its service providers. Thus, whatever we do must be done with the utmost care and diligence, and must adhere to the highest professional standards. The assignment must be feasible, and will be divided into phases. Before each phase the decision makers will have to evaluate the impact and consequences, needs and other key considerations before the City will commit to any functions. We’re determined to restore commuters’ faith in passenger rail as it should be the backbone of public transport in Cape Town. However, we need to do this in a responsible manner by being fully aware of the financial risks involved and by ensuring we’re