The Oasis, the first major retirement estate to be developed in Cape Town in many years, is to be built at Century City at a cost of R500 million.
The development on a prime 5ha site, which is to be officially launched next month, is a response to strong demand from this sector of the market.
It is being undertaken by Harries Projects who were co-developers on the adjoining The Island Club residential project which took the market by storm with all 445 units being snapped up in record time.
Roger Harries said Western Cape developers have for all intents and purposes ignored this segment of the market in recent years resulting in a huge pent up demand for quality retirement apartments in secure, well-appointed developments.
This demand, he said, became evident with the marketing of The Island Club and other residential developments at Century City.
"Century City is the ideal location for a retirement estate as not only is it extremely central but it also offers a high level of security and is being built around the principles of new urbanism, namely the concept of being able to live, work, shop and play all within easy walking distance of each other.
"Many other retirement developments are located on remote sites far from residents’ families and all amenities requiring residents have their own transport. The beauty of Century City is that it is all literally on your doorstep."
Harries said Century City had become an established residential node in recent years with buyers having snapped up all projects almost as soon as they have come to the market. The one ingredient that had been missing in the residential mix was an upmarket retirement estate offering superb facilities including 24 hour health care services.
"In fact a lot of early interest in The Oasis has come from the parents and grandparents of those who have bought into other developments at Century City. They want to continue to live independently but want to be close to their families," he said.
He said a marquee including a model of the development had been set up on site to cater for pre-launch interest and staff were on hand to assist potential purchasers. The first pre-launch sales had now been concluded.
The Oasis will comprise 450 luxury apartments for active retirees, 78 apartments for those requiring assisted living and superb communal facilities including a Club and leisure centre.
The project is to be built in three phases with work on the first 182 apartments expected to start in May this year with first handovers in mid-2006.
The first phase will incorporate the Club, which will include a restaurant, library, lounge, an outdoor pool, an indoor heated swimming pool, a fully equipped gymnasium, wellness centre and sauna while the Health Centre will include the assisted living units, located around a citrus courtyard, and a frail care centre providing 24 hour health services to apartment occupants.
The five apartment blocks in The Oasis will offer superb mountain and sea views with the site being enclosed by landscaped embankments creating a sheltered environment with water features, indigenous vegetation, palm-fringed lanes and tranquil ponds. `
Braai facilities, picnic areas and view decks as well as walking trails, putting greens, tennis courts, boule and croquet will also be on offer in the development which will be in easy walking distance of Canal Walk shopping centre.
Apartments will range in price from R895 000 for a one bedroom unit through to R2,9m for a three-bedroom penthouse with most of the units comprising two bedrooms. Assisted living units are available from R399 000.
Broadband internet connectivity, DStv, underfloor heating and intercom system with 24 hour emergency health call all come standard in each apartment with all master bedrooms being en suite.
With two lifts servicing each building and lobbies and lounge areas in each block opening onto sunny terraces, The Oasis is set to become a landmark in opulent living.
Publisher: Cape Business News
Source: Cape Business News
