[imagesource:capetown.gov]

The City of Cape Town’s Mayoral Committee has approved the initiation of a public participation process to release the iconic Good Hope Centre site for redevelopment to “unlock its immense economic potential while promoting the heritage of this Mother City landmark”.

The City’s proposal hopes to retain the Good Hope Centre’s iconic dome while optimising the surrounding space for mixed-use potential.

Alderman James Vos, Mayoral Committee Member for Economic Growth said the proposed redevelopment aims to balance heritage preservation with the creation of a vibrant, modern precinct that meets Cape Town’s urban and economic needs.

‘Revitalising the Good Hope Centre through private sector investment is critical to preserving its legacy while ensuring its optimal use for the benefit of Cape Town residents. This approach will enable the site to thrive as a functional and economically active space, contributing to our city’s growth and prosperity.

Vos says that the proposed redevelopment project “aligns with Cape Town’s broader goals of economic growth, job creation, and attracting investment, as outlined in the City’s Integrated Development Plan. It will catalyse regeneration in the precinct, provide vibrant community spaces, and secure long-term revenue for the City that can be ploughed back into services and infrastructure delivery.”

Proposed features include:
•       A pedestrian-friendly forecourt
•       Ground-floor retail spaces
•       Residential and commercial units
•       Structured underground parking to maximise land use

Currently, the Good Hope Centre site is leased on a month-to-month basis, generating R520 000 per month. However, private sector investment is required to sustainably unlock the site’s immense economic potential through mixed-use development.

The Good Hope Centre holds great historical and architectural significance. Designed by Italian architect Pier Luigi Nervi, and first welcomed guests in 1976, it was initially used as an exhibition hall and conference centre and spans an impressive 24 843 square metres along Sir Lowry Road.

For the last few decades however, the centre has been running at an annual loss of R2 million, leaving the City with no option but to lease out the venue as a film studio.

It’s about time.

[source:capetown.gov]