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Boom time for the East City Precinct
Category Property News
For many years, Cape Town's East City Precinct was regarded as the less desirable fringe of Cape Town's CBD, largely overlooked by the developers who've been reshaping the cityscape over the last decade. However, this has started to change, with recent upgrades attracting newbusinesses and injecting new life into the area. Lew Geffen, chairman, Lew Geffen Sotheby's International Realty, says that until recently, investment in this area was very slow, especially when compared to the Foreshore and other central sectors, but with R16bn worth of construction under way or planned over the next few years, the East City Precinct will undergo a dramatic transformation. "The area has been earmarked by the city as a special design and development district, and many are hailing it as a 'design and innovation district', as well as the latest trendy social hub," says Geffen. Chad Shapiro, senior commercial broker, Lew Geffen Sotheby's International Realty CBD, City Bowl and Atlantic Seaboard, says that a number of the larger commercial buildings have already been remodelled and upgraded, including The Harrington, 50 Buitenkant and the entire Church Square area. Construction includes the new Amazon.com building which is being built where Viglietti Motors was situated
Author: Lew Geffen Sotheby's International Realty