By Graham Norris
An abandoned quarry with high rock faces above a four hectare lake has been transformed in two years into one of the fastest-growing development nodes in the Western Cape. A staggering 110 000m2 of mixed-use space is now coming on stream - or will shortly do so - at Mvelaprop's Tyger Falls waterfront development at Tyger Valley. When completed, it will represent a total investment of more than R2 billion. Anton Chait, a Mvelaprop director, said that the project had caught the public's imagination in a way without precedent in the northern suburbs. The 110 000m2 approved space, he said, is 9 000m2 short of the total area zoned for development.
"The success of this site has been the fact that the developments are mixed-use and offer the opportunity to live, work and play in the same secure environment," said Chait. "When we are complete in 24 months, this place will have anything up to 15 restaurants and coffee shops, most of them on the water's edge." Work is currently complete or in progress on: Asrin's Falcon Crest residential project, one of the best sited because it is right on the edge of the lake. Tobie Mynhardt's retail, office and residential complex. Charles Potgieter's phase one and phase two Tyger Falls Villas residential project. Chris Tapsell's Tyger Ridge apartment complex. Remey's Vue de la Rive development also comprising apartments.
Riverside Lofts, developed by Deon Allen and the biggest single project to date at Tyger Falls. It will have 120 units including apartments, offices, retail outlets and a 450-bay parking garage. 't Waterkant, a large residential and retail complex by Warner Projects and Property Partners which will possibly be on-sold to a follow-up developer. It already has over R50 million sales in place. Chait said that on the north-eastern corner of the site, fronting on to Carl Cronje Avenue, a seven-storey retail complex and service station is likely to be built around a central square - but at this stage he is not able to disclose the developer with whom negotiations are proceeding.
Design rulings have ensured that, while the buildings are not all the same, each has a modern, clean, nautical look. Earthworks have resulted in a complete reconfiguration of the site and in the creation of hilltop sites with panoramic views across the water. An environment development plan with a separate management team looks after the landscaping of the communal areas of the entire Tyger Falls. As buildings are finished, landscaping is put in place. A brick pathway along the river meanders all along the side of the development. Occupants can walk along it, and under the bridge which crosses the Elsieskraal river, along to the restaurants at Tyger Falls and the adjacent Tyger Waterfront.
This article was originally published on page 9 of The Cape Argus on May 29, 2004
Publisher: The Argus
Source: The Argus
110000m2 Mixed used space now on stream
Posted On Friday, 28 May 2004 02:00 Published by eProperty News
An abandoned quarry with high rock faces above a four hectare lake has been transformed in two years into one of the fastest-growing development nodes in the Western Cape.
Latest from eProperty News
- Love and property: a homebuying guide for couples
- From Civic Landmark to Collaborative Hub: A New Era for Muizenberg’s Post Office
- Growthpoint breaks ground on Tecoma Park, Cornubia, advancing its local logistics strategy
- Rosebank Mall adds Livo to its lifestyle line-up
- 166 sectional title units in the iconic Parktonian Hotel, located in the heart of Braamfontein, Johannesburg
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.