Cape Town CIDs blossoming

Posted On Friday, 29 June 2001 03:01 Published by eProp Commercial Property News
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Nothing breeds success like success. Which is why in Cape Town, new city improvement districts are appearing everywhere.

Michael FarrThe success of the CID in the city centre (statistics show a 46% reduction in crime in some areas) has led to the establishment of similar actions in other parts of the metropole. And major corporate players are backing this with putting their money where it matters – Investec, Nedbank and Pick 'n Pay are opening up shop in the city centre.

Michael Farr, Cape Town Partnership CE, intimated to Rode's e-Newsletter that sentiment is so strong that one retailer (he wants to remain nameless) is now looking for 3000m² floor space in the city centre on the heels of Pick 'n Pay's announced opening of a CBD store.

Farr says there is a growing belief in the tangible benefits that CIDs can have. 'Smaller property owners have taken a wait-and-see attitude, but the fact that we both expanded the boundaries of the CID as well as extended this action to Green Point and other areas are clearly providing enough motivation for property owners to commit themselves in their areas.'

A Green Point CID will be introduced in July, closely followed by ones in Sea Point, Oranje Kloof and Higgovale. This follows the establishment of the Claremont, Wynberg, Fish Hoek and Parow CIDs last year.

'One of difficulties we face though is unrealistic expectations. CIDs are designed to bring about safer and cleaner areas. Greening and general improvements can only come later. Similarly, CIDs are not designed to address issues of social welfare in nature, such as vagrancy and homelessness.'

He says the decrease in premium grade vacancies from 17,4% in September 2000 to 5% in March shows a massive vote of confidence in the city.

Last modified on Monday, 19 May 2014 17:01

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