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Newtown event venue to boost cultural development

Posted On Monday, 30 January 2006 02:00 Published by eProp Commercial Property News
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The City of Joburg Property Company (JPC), the property arm of the City of Johannesburg, is calling for proposals from developers for the development of Newtown’s Transport House into a multipurpose indoor-event venue.

Property-Housing-ResidentialThe development forms part of the city’s plan to entrench Newtown as a cultural precinct.

The JPC said on Friday that more than R300m had been spent by the public sector in "re-establishing Newtown as a cultural hub".

"Private sector investment is crucial to the success of Newtown’s development, and it is for this reason that the land-release process has been structured to encourage investment and development aligned with the Newtown vision."

The JPC said a need for a flexible indoor venue had been identified to support existing outdoor events on Mary Fitzgerald Square and smaller facilities available at the Bassline, Museum Africa and the Bus Factory.

It envisaged the 9867m² Transport House being developed to host exhibitions, sports events and concerts. The JPC said it expected to award the tender in May.

There has also been a strong residential property component to Newtown’s resurgence as a cultural centre. Last August the R121m Brickfields residential project was launched.

Brickfields, the largest public and private-funded residential development in the inner city, provides rental accommodation for mixed income groups.

Another residential development planned for the area includes a R150m project consisting of four high-density apartment blocks.

Private property company Zenprop is one of the financial backers and co-developers of the Newtown Central Place Project, which is planned on land around Central Place opposite the Mary Fitzgerald Square.

The four apartment blocks, which will cover 18000m², form part of this new development.

It is aimed at middle- and upper- income groups, inspired by Johannesburg’s Melrose Arch precinct.



Last modified on Saturday, 17 May 2014 10:37

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