Live Work Play | Benefits of a Mixed-Use Precinct

Mar 3, 2019 | All, Industry

As our roads become more congested and public transport increasingly frustrating, mixed-use precincts are on the rise.

Across the world, property developers are faced with the challenge of creating spaces to facilitate the trend of urban living.

As more and more people desire central living, with a range of amenities and minimal travel time, property companies must meet the demand with modern spaces that offer a range of benefits.

A vibrant growth node is typically characterised by high levels of economic activity and growth in employment opportunities, which in turn stimulates the surrounding housing markets.

At PropertyFox, we look at various mixed-use precincts and the benefits of living, working and playing in one location, particularly in Cape Town – one of South Africa’s most congested cities when it comes to traffic.

Mixed-Use Precincts in Cape Town

There are 59 residential complexes and 3 157 businesses in Cape Town’s CBD across sectors, including: 74 corporates and general offices, 190 accommodation and travel companies, 84 educational establishments, 193 medical entities, 986 entertainment and retail entities, and 111 communications, media and advertising agencies.

Here is a look at various mixed-use precincts near Cape Town.

Claremont CBD

The Claremont CBD in the Southern Suburbs of Cape Town is booming with predominantly mixed-use developments.

While luxury residential units are increasingly located on the periphery of the Claremont CBD, a growing number of mixed-use developments are creating residential units for the area’s growing student population.

Across the world, property developers are faced with the challenge of creating spaces to facilitate the trend of urban living.

The fact that Claremont also offers both a business hub, access to retail and entertainment amenities and easy access to several well-established schools, goes some way to explaining the continued growth in demand for properties in the suburb.

Century City

Looking for an area that encompasses the “home sweet home” complete with entertainment just down the street? Then moving to Century City would be the right move for you! Century City is a mixed-use development that includes residential, retail, entertainment and office components. Since its first development in 1997, Century City has become a 250-hectare suburb of Cape Town.

Century City on the N1 is the quintessential live, work, play precinct with more than 60 000 people living and working in the area. This ‘city within a city’ has various attractions, including parks, accessible public transport, shopping centres, schools and recreational activities.

Waterfront

In Cape Town, the foreshore and Roggebaai precinct are seeing big development of mixed-use spaces. The area is more affordable per square metre than the Waterfront, but still on the water’s edge and close to the CBD.

It enjoys incredible accessibility, with roads, water taxis and pedestrian walkways linking directly with the V&A Waterfront, the Cape Town International Convention Centre, and the CBD. As a result, the area is attracting many Blue-Chip businesses and therefore increasing the demand for mixed-use spaces.

Benefits of Mixed-Use Precinct Living

The core appeal of mixed-use precincts is that they provide a solution for the growing number of people seeking to live and work within proximity.

A mixed-use precinct offers a range of amenities at your door-step and minimal travel time.
Like a residential estate, a mixed-use precinct also offers the ability to ‘live, work and play’ in a safe and secure area.

Mixed-use developments utilise space to its maximum capacity. These precincts are defined by safety and security, design, convenience, connectivity and walkability. So, if you are looking to live, work and play in the same area, then investing in these developments could work for you!

At PropertyFox, we would like to make sure that your property buying process goes as smooth as possible. Contact us today and we will take from there.

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