district six revives cape town
25 April 2008 

Set to enliven and uplift the area, the development will replace the Oriental Plaza previously in Sir Lowry Road with the purpose of breathing life back into the once colourful, vivacious community.

“With the area currently lacking life-force and vigor we saw a huge opportunity to rejuvenate and modernise the neighborhood,” says Rob Barnett-Harris from Leisure Development. “The vision is to uplift the region whilst still celebrating and remembering the rich historical stories that abound.” The competitive pricing structure of the 406 units in the development seeks to make entry into the property market easy for first time buyers looking to experience or invest in inner city dwellings.

“We are seeing more and more people looking for housing within the R450 000 to R1.2-million price bracket,” says Louise Maranz from Vered Estates.

The affordability of the development will lend itself well to diverse potential occupants with students also likely to opt for the location due to its proximity to the Cape Peninsula University of Technology, forming a captive rental market for investment buyers. Additional opportunities exist for families who wish to enter the property market and invest in a piece of Eastern city property at very affordable prices.

“Tenants can relive and captivate the historical value of the area whilst still enjoying the beautiful views of Table Mountain, all within walking distance from the CBD. A featured road in the former township will actually be running through the building where plaques of acknowledgement and remembrance will be placed,” says Maranz.

“To buy in District Six this time around means to settle with peace of mind, attain the security of a protected investment and most importantly to experience the sense of community that once reigned over the diverse and vibrant subcultures of this lively suburb.”

Units available include studios, one bedroom and two bedroom apartments ranging from R499 000 to R1.189-million in price. These will be built around a central courtyard with 24-hour security and a dedicated concierge. There will also be a gym on the ground floor, a communal braai area, a swimming pool and terrace on the roof as well as vibey retail space at the front of the development.

The completion date is expected to be towards the end of 2009.

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