economic advantages of johannesburg inner city - Joburg

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May 12, 2010 • At eastern end of Newtown is a rough open area with hundreds of taxis ranking on it – Council was keen to develop a major international transport and shopping centre – however • Between Diagonal and Sauer Streets, the basements to the new FNB development is progressing well - providing 1 830 parking bays in four basement levels and sixth floors with four floors which will provide close to 20 000m2 of office space – completion date August 2010 is right on track • The area centering on Diagonal Street has seen some exciting changes this past two years – FNB purchasing the AA building, ABSA purchasing 11 Diagonal Street and completion of the Turbine Square Development • Further north, on the corner of Bree and Sauer streets, is a new KFC and south of it a building under construction. • Public environment upgrades – Diagonal Street and Chinatown. • In regard to future developments: o Initial planning on massive Carr street Development of retail, commercial and hotel is proceeding o Museum Africa being upgraded o Two projects on Central Place site – probably mixed use development o The Transport House and Majestic Sites also earmarked for development – progress very slow 9.4.3 Central • ABSA project is progressing at speed • AFHCO and City Prop boards reflect on investment in restored and refurbished buildings • The OPH developments clustered around and adjacent to Ghandi Square have certainly added to the look of the area Westgate Station Precinct Spatial Development Framework and Implementation Plan 59
• The partially destroyed Irish Barracks building is boarded off • Construction activity around some of the provincial government precinct buildings – the Hotel, Rand Water Board and other areas May 12, 2010 • A proposal has been submitted for the Barbican – part of a massive redevelopment by Old Mutual with some exciting public open space suggestions • Retail improvement district urban environment proposals • On negative side but hopefully to become positive – the disruption caused by BRT works and too many buildings on the self-imploding basis – Rissik Street Post Office, Trade Union Hall, CNA/Shakespeare/New Kelsey complex. Overall, it is evident that the precinct is located within an area characterised by increased levels of capital investment – boding well towards new development within the precinct – building on existing synergies. 9.5 RETAIL DENSITY DEMAND Figure 24 below indicates the retail density demand within and around the Westgate Precinct. It should however be noted that this is based on the resident population and does not provide for the commuter volumes moving through the precinct on a daily basis. As mentioned previously the precinct does not have a strong resident population component – therefore the lower demand densities. However, taking into account the commuter volumes introduced to the area via the four public transportation modes it is anticipated that retail demand densities will be much higher. These trends bode well towards retail development within the precinct. The extent however should be estimated based on up to date commuter forecasts for these various public transport modes. Westgate Station Precinct Spatial Development Framework and Implementation Plan 60
Page 1 and 2: 9. LOCALISED ECONOMY 9.1 ECONOMIC A
Page 3 and 4: Source: Demacon based on Johannesbu
Page 5 and 6: Source: Demacon, 2010 Figure 21: UD
Page 7 and 8: May 12, 2010 9.4 CAPITAL INVESTMENT
Page 9: May 12, 2010 • A great deal of th
Page 13 and 14: 9.6 RETAIL SUPPLY From Figure 25, i

economic advantages of johannesburg inner city - Joburg

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