So said ward councillor Ian Iversen at a celebration to mark the success of the new private sector funded Claremont Civic Precinct and public library at The Quadrant, Cape Town Southern Suburb’s trendy living, working and timeout area.
The project, which has taken over 5 years to complete, started with a public participation process nearly a decade ago. At that time, the process was considered to be one of the most detailed and informative proposal call initiatives ever drafted by the City of Cape Town.
The project was driven by a pro-active group of officials who were keen to upgrade the Claremont Civic precinct. A public participation process culminated in rezoning of the property in 1999, and, recognising the need for private funding, a tender for its development was issued by the City.
Following an adjudication and audit process the development rights were awarded in October 2000 to the Claremont Library Development Company (Pty) Ltd a consortium comprising local developers Corevest (Pty) Ltd, Commlife Properties and B L Williams Construction.
At this weeks’ celebration of the highly successful project, the team recalled the complexities of converting the call proposal conditions into efficient and enforceable legal agreements.
The development included the sale of a portion of land, a 40 year lease of the Library Square property, a sub-lease over the new Claremont Library as well as a development agreement covering the scope, timing, quality and empowerment objectives. Everyone agreed the project’s ground breaking logistics were underestimated by both the city council and the development partnership.
Agreements were finally signed in about four years later and construction commenced five years after winning the tender. Now, after another 4 years, the commercial precinct is complete and the second phase of residential – a total of 150 apartments will be complete in early 2010.
The project encompasses the entire 2 hectares of land between Main Road, Kingsbury clinic and the Railway line and represents R 400 million investment in a multi functional, mixed use development comprising public squares, a state of the art library, 5000 m2 of commercial accommodation as well as 250 apartments
Gary Moore of Claremont based developers Corevest said the project had always intended going beyond the profit-only development motive so prevalent in the buoyant property industry of the past few years.
“The consortium behind The Quadrant precinct has been able to view the project from a public facility as well as empowerment and public-private joint venture perspective. This has resulted in a wonderfully landscaped and leafy new node for easy living - close to work, shops, transport and sporting facilities.
“We are delighted with the result to date - we have here a wonderfully landscaped and leafy new node for comfortable working and living - close to the CBD, work, shops, transport and sporting facilities. We are especially happy to see the library as well as the offices, medical facilities, parking, restaurants and gym are benefiting all Claremont’s residents in this revitalisation of a previously neglected area of Claremont.”
He said the apartments at The Quadrant have especially found favour with members of the medical fraternity, many of who practice in the area and UCT students and staff for whom it provided easy access to the university and top private and public schools in the area.
“We have also noticed many ex South Africans – especially those living in London – love this precinct with it’s proximity to exclusive retail at Cavendish as well Newlands Rugby and Cricket grounds. We are currently fielding about 30 offshore enquiries per month. In fact to date, 14% of the investors in The Quadrant are ex pats investing from abroad.”
The Library is situated directly behind the Claremont Civic Centre Hall in a low energy naturally ventilated modern glassed building which leads out onto a public square which will be used for art exhibitions and other activities.
Mr Moore says the project represents a substantial attempt at incorporating public and private interests in a sustainable manner with the revitalisation of a previously neglected area of Claremont.
“It’s the first purpose-built lifestyle development in the sought after Southern Suburbs that offers an innovative combination of residential and commercial property investment opportunities in an attractive green environment.
“The development has also completely rejuvenated Claremont’s Civic amenities with the upgrading of the Civic Centre, construction of the new library and creation of public squares and parking. The final phase of the development will also see the demolition of the massive, ugly old railway electrical substation which is to be rebuilt in a more aesthetically pleasing structure nearby in a separate but linked deal with the SARCC / Metrorail.
The Quadrant has been hailed for improving the popular trend of inner city living by locating the convenience of inner city living in a more spacious, tranquil, modernized suburban area.
“It not merely place to stay, but a multi-functional and self-contained precinct in which people can live, work and play within their own immediate environment, but is also only a short walk away from the Claremont CBD.
“It combines apartments with restaurants, shops, offices and entertainment. It also has a great health and fitness offering and provides personal grooming like hairdressing, beauty and massage therapy. It is in close proximity to major highways and transport routes as well as top schools and hospitals, providing an easy, secure and upmarket lifestyle.”
“As part of the broader effort at upgrading the suburb, we have been at pains to ensure that The Quadrant offers superior architectural and design features, a highly contemporary feel and superior quality finishes. This is city living but with the added advantage of the space and tranquillity that the suburb offers,” says Moore.
Publisher: eProp
Source: Corovest

