Cape Town’s inner-city redevelopment is the most successful model in SA, partly because the central business district (CBD) was never allowed to sink as low as other CBDs.

Leading that drive, the Cape Town City Partnership has inspired business, financial institutions and Capetonians by its performance in uplifting the city.

At its annual general meeting earlier this year, CEO Andrew Boraine said: “We’ve seen a turnaround of the fortunes of the most important business node in Cape Town in a relatively short period.”

The result has been increased investment, growth and jobs, but more importantly it demonstrated the ability of Capetonians from different public, private and community sector organisations to tackle problems collectively.

“On its own the Cape Town Partnership is a very small organisation, and I have always said that we are only as strong as our partners. The achievements of the Cape Town Central City show what can happen when we work together actively,” he said.

He listed the development highlights of the past year: the launch of Mandela Rhodes Place, a development consisting of seven buildings being renovated into a mixed-use property complex; the launch of the Icon Building on the Foreshore; the sale of the V&A Waterfront to an international consortium, as well as the planned expansion of the Waterfront over the next three to five years; the start of planning for the R2,2bn Strand-on-Adderley mixed-use development; the planning process for the revitalisation of the Cape Town Station, including upgrades in time for 2010; and good progress towards an inner city public-transport plan.

One of the key innovations of the Cape Town Partnership was a CBD energy-efficiency initiative. This public-private partnership was established to help reduce energy consumption by commercial buildings in the central city. The goal was to reduce electricity bills and save power.

Boraine said: “The Cape Town City Partnership played a central role in promoting energy efficiency in the CBD during the power crisis of 2006/7. We are committed to expand this initiative to make Cape Town a leading green city.”

Boraine said between about R30bn worth of new private and public-sector investments were planned for the next three to five years in the central city, attracted by Cape Town’s status as having the safest such area in SA.

One of the landmark developments is a planned multimillion rand facelift for the historic Greenmarket Square, SA’s second oldest public square.

The square, in the heart of Cape Town’s central business district, turns 300 on March 10 2010.

The rejuvenation drive has attracted millions of rands of private investment to the precinct, the city said in a statement.

“The square has played a significant role in the city's history since the first trading ships berthed in Table Bay in the late seventeenth century and used it as a trading area,” mayoral committee member Simon Grindrod said in the statement.

“The city now plans to resuscitate Greenmarket Square into the cultural, social and business hub of Cape Town, which will also act as catalyst for inner-city revival.”

Plans included the pedestrianisation of the square, widening the Shortmarket Street sidewalk, upgrading the ablution block, construction of a concert stage, reconfiguration of the informal trading areas and moves to link it to the 2010 Soccer World Cup “fan mile”.

The council believes that cleaner and safer trading areas will inevitably attract more tourists and investors.

Source: Business Day