The City of Cape Town has started the process of efficient and effective management and distribution of immovable property assets at the plot on the corner of Jan Smuts Drive and Turfhall Road.
The 2,7 ha plot is being released for commercial and social care purposes.
Mayco member for economic growth James Vos says: “This approval brings to fruition the long-term vision of the Not-For-Profit local land trust.
“The site will be home to an educational and social care facility, while incorporating a commercial footprint to fit the needs of the local community.”
The selection of entities at the site will be decided by the purchaser of the land parcel.
This is one of over 40 reports presented and approved by Full Council in November and December.
Vos tells People’s Post that the plot has been used by the purchaser on a rental basis for the past five years and is mixed-use with education, social care and commercial use.
“The site is partially occupied. The City is not contributing any amenities,” says Vos.
In a statement Vos says his goal is to use the assets at the City’s disposal to “boost economic opportunity, and fostering sustainable job creation and skills development”.
“Real estate underpins several elements of our socio-economic development, from jobs in sectors such as construction, through to generating revenue that allows for the ongoing delivery of municipal services.
As such, it gives me great pleasure to share details of several key transactions which were tabled at the last two Council sittings of the year,” he says in a statement.
“Going forward, we will remain committed to fully exploring the opportunity to incorporate the deployment and utilisation of the City of Cape Town’s immovable property asset portfolio as a pillar of our economic recovery.”
