World-wide, property development and infrastructure investment is a major factor contributing to revitalisation throughout South Africa’s CBD’s. In addition to this, a specific perception shift of degenerated areas is needed to facilitate regeneration in order for them to be attractive to communities and individuals. Examples of this regeneration range from the redevelopment of the Voortrekker Road Corridor (VRC) in Cape Town to Maboneng in Johannesburg.
The built environment, the bulk infrastructure and the transportation networks to and from the VRC are of a high quality, adequate capacity and well utilized, resulting in a location that is ideal for development and investment. Currently in the VRC and specifically Bellville and Parow, there is a huge demand for various types of accommodation – student and rental affordable accommodation, as well as retail and commercial uses that will support the accommodation and other social amenities. There is also an availability of office space in the Bellville CBD. The location and high levels of transport connectivity, substantially lower traffic congestion levels compared to other business precincts in the Metro, large available workforce of all skill levels and the Urban Development Zone (UDZ) tax incentive that is applicable to portions of the VRC all make the VRC an attractive area for investment.