In the new year, the City’s Economic Growth Directorate will be calling on the public to have their say on the proposal to make a mixed used development opportunity available on a section of the parking area at the Athlone Stadium alongside Klipfontein Road to drive socio-economic development in the area. This move is part of the City’s broader long-term vision to upgrade the Athlone Stadium precinct in future into a vibrant hub that attracts more investment and benefits the community.
The identified site is currently an overflow parking area located south of the stadium building and along Klipfontein Road in Kewtown.
Benefits
The City envisions optimising and unlocking the potential of the popular Athlone Stadium site through mixed-use development to drive socio-economic development. A feasibility study was done to help determine the best uses of the precinct to revitalise it and benefit the community. Various areas of infill opportunities to develop underused or vacant spaces were identified as part of the study. It is envisaged that the development opportunities will be made available on a phased basis depending on market take up.
‘The proposed mixed-use development, which aims to incorporate retail, commercial, and business components, is expected to stimulate economic activity, create employment opportunities, and enhance socio-economic development within the district.
‘The stadium’s central location is ideal for business and employment opportunities as it is on main public transport routes.
‘By strategically using the precinct’s infill land parcels to its full potential, including this specific section of the parking area, the City aims to transform the area into a vibrant hub that attracts investment, offers a diverse service offering and stimulates economic activity. Ultimately, this initiative will strengthen the community’s economic and social foundations, fostering long-term resilience driven by sustained economic growth,’ said Alderman James Vos, Mayoral Committee Member for Economic Growth.
Development Opportunity
The development opportunity for the parking area site identified for proposed disposal is expected to be made available to the market through an auction.
‘This approach ensures transparency, encourages broad participation from qualified developers and ultimately allows a fair-market price to be generated. This competitive process aims to attract high-quality proposals that align with the precinct’s strategic goals, ultimately leading to a development that uplifts and benefits the surrounding area.
‘We look forward to the public’s feedback when the opportunity for comment comes next year,’ said Alderman Vos.
The desktop valuation carried out by Property Management’s Valuations branch has estimated the market value of the identified property to be about R17,6 million (exclusive of VAT and transfer costs).
The funds generated from the sale of the identified site will be used for general city-wide service delivery.
Engaging the public
Once details are finalised, the City will inform the public of opportunities to comment on the sale of the identified property for mixed use development via public notices, its official website, and public meetings.
For information and updates:
- Email: Development.Athlone@Capetown.gov.za
- Visit the Property Development Department’swebpage
About the section of parking area identified for proposed disposal:
- Location: It is part of the Athlone Stadium and is located between the stadium and Klipfontein Road.
- Size: About 13 366 m2
- Zoning: General Business 5 (GB 5)
