A combination of public and private sector investment is driving renewed confidence in Cape Town's Upper Long Street precinct, with property owners, developers and city stakeholders pointing to improvements in safety, urban management and residential development as signs of the area's continued revitalisation.
Property owners and developers say coordinated efforts by the City of Cape Town, the Cape Town Central City Improvement District (CCID), businesses and community organisations are helping reposition the historic precinct as a mixed-use destination for residents, visitors and investors.
Joy Millar, asset manager at Benzing Properties and a CCID board member, said Upper Long Street's central location, heritage buildings and transport links have long made it an attractive part of the city.
The precinct has also attracted significant residential investment. Urban property developer Blok entered the area two years ago with its first Cape Town CBD project in Vredenburg Lane, just off Long Street. Its TENONV development has delivered 152 apartments overlooking the Company's Garden, with residents recently moving in.
Blok has since announced ELEVENONB, a R650-million residential development that will include retail space aimed at supporting the area's daytime and nighttime economy.
