COVER FEATURE
High-density Residential Coming Home
The residential sector recorded R1.21billion in development over a total residential footprint of 185792 sqm . Multi-storey residential flats were the predominant form , comprising around 1 283 units and the rest comprising single residential houses and 47 units in townhouse developments .
Supporting the development of higher-density residential accommodation , Bellville is becoming a centre for affordable accommodation , meeting the needs of the under-served market in the Cape Town metropole , particularly with a focus on transit-oriented development that offers residents easy access to multiple public transport options and mixed-use amenities .
13 Sex tax incentive also enables inventors to write off a percentage of the cost of , or improvements to , buildings acquired or built after 21 October 2008 .
Other incentives include the Parow Station Precinct Heritage Exemption , and local government incentives for inclusionary housing development . In particular , Voortrekker Road , the main commercial spine that links the Cape Town CBD with the Bellville CBD , is zoned as General Business or Local Business , which allows for medium- to high-density developments comprising residential and commercial or retail uses .
These developments are bound to have a positive impact on the economic and commercial standing of the Bellville CBD .
Development incentives such as the Urban Development Zone in the Voortrekker Road Corridor and attractive PT1 and PT2 zoning which allows fewer parking bays per dwelling , support investors in this sector . Section
Looking to Bellville ' s Future
In March this year , the Executive Mayor of Cape Town , Dan Plato , announced the Mayoral Visibility Service Delivery Acceleration ( MVSA ), which earmarks R200 million to fast-track efforts
8 SEP 2021 SA Real Estate Investor Magazine