Update (August 2017)
The comment period on the development application notice closed on 7 August 2017. According to the notice : Tto develop the property with a 142.2m high building containing 624 residential units, approximately 5996 sqm of business space within the basement (concourse level), first (ground) and second storeys, and a total of 742 parking bays.”
Update (February 2017)
The construction is scheduled to begin in April. Costing in the region of R 1.5 billion, it will take 30 months to complete with over 60% of the space already sold out. Emerging market property developer Land Equity Group, headed by Stuart Chait, recently purchased Old Mutual Centre and Exchange Place in Cape Town’s bustling CBD from Old Mutual Properties.
Update (September 2017)
A new skyscraper is being planned at the north-west corner of Strand & Adderley street and across the road from Cape Town Central Station (for which a R1 billion mixed-use development has been approved) and Adderley Street MyCiTi station. According to the website of FWJK architects, the “Zero2ONE” tower or “Exchange Place”, will have 42 storeys and become the “tallest building in Cape Town” with a mainly residential component.
It will comprise of :
- 624 apartments
- 760 parking bays
- a viewing deck with 360 degree views open to the public
- 6000 sqm of retail
See more Cape Town Development Updates here