Another ambitious property development, similar to Melrose Arch in Johannesburg, has been proposed for Beacon Bay. The R500 million development named Triple Point will comprise a hotel and conference facility, offices, a community shopping centre, apartments and townhouses. It will be located on the new Quinera highway in Beacon Bay, next to the proposed Lifehealth Care Hospital.

Developer Grant Wheatley from Novate Property Investments said the development was aimed at successful professionals who wanted to create a better lifestyle by reducing time-consuming activities like travel and other mundane daily tasks.

"We know Beacon Bay will be the next development area and will in time join East London with Gonubie. Beacon Bay is becoming the must-be address for young professionals, but there are no entertainment developments in the area. We want to create something for them," he said.

Wheatley said the company took a leaf from the book of the iconic Melrose Arch when designing Triple Point by integrating the work and play elements of people's lives into one development.

"We believe our residents will find much of this inspired lifestyle within the one kilometre radius of the development," said Wheatley.

Located alongside the Quinera River, the residential node will comprise 160 one, two and three-bedroomed apartments as well as 35 three-bedroomed townhouses. The townhouses will have the best vantage points, as well as access to the river.

Gym and crèche facilities together with a runner's track will complete this node.

The retail node will consist of a 90-roomed hotel together with conference facilities. "We also believe East London's property market is a strong contender for continued growth," said Wheatley.

Graham Wilson from Osmond Lang architects, who helped develop the Melrose Arch concept, said there was a trend in architecture called new urbanism, whereby properties are developed around human beings, especially pedestrians.

Another such development, apart from Melrose Arch, is the Waterfront in Cape Town.

Wheatley said the development still needed to receive council approval, but he was confident that sales could begin in March 2007. Construction starts in June 2007.

Apartments and the hotel will be the first to go up and will be completed in 2008. Construction of the office and retail nodes will follow, with the entire development expected to be complete by 2010.

Daily Dispatch
 
 
Publisher: I-Net Bridge
Source: I-Net Bridge