The Claremont Improvement District Company (CIDC) is celebrating 16 years of some positive changes in the area and heralding more growth for the future.
“The public transport interchange has been built and the Claremont Boulevard has been constructed.
“These, and many other developments, have all created a positive momentum for the growth and development of the Claremont central business district.”
Stoll also said during the past decade the value of commercial and residential properties in the Claremont CBD rose 400% to R7.1bn in the current financial year.
Uplifting story“While we see the physical evidence of these developments every day, the inaugural State of Claremont Report, which was released at the annual meeting, gives us the opportunity to tell the story of the progress we made up to this year.
“This document, the first of its kind for Claremont, presents a consolidated overview of the development trends and investment profile of our neighbourhood, and reinforces the reasons why the area is a preferred development destination.”
Abdul Kerbelker, executive manager of the CIDC, added to the excitement of the celebration by pointing out that since the early days under Anthony Davie’s leadership, the area was a continuing work in progress.
“We have moved beyond the era of litter-strewn streets and pervasive crime into a phase of sustainable growth,” he said. “Our success is measured by the economic success of those who work, live and play within our boundaries.
“That’s why it is so exciting to see the reshaping of the urban landscape, and to see new businesses open their doors.”
Not terminal anymore Kerbelker added that looking back in history the future of Claremont seemed assured during the 1970s and ’80s but during the ’90s the development of shopping centres in other areas heralded a shift in the suburb’s fortunes.
“There was a growing consensus that Claremont’s CBD was in terminal decline,” he says.
“In the face of growing urban decay and investor flight, property owners and investors realised that any attempt to upgrade Claremont would have to be undertaken by local stakeholders themselves.
“The City Improvement District (CID) by-law was created by local government in 2000 and this allowed the first two CIDs, the Cape Town CID in the city and the CIDC, to be established.
“The process became known as the ‘Claremont renaissance’ and, under the dynamic leadership of the late Chris Drummond, an estimated R1.8bn was invested in the area.”
Stoll added that the first wave of redevelopment featured commercial, retail and residential developments.
“The focus was not just on the development of new buildings but also the refurbishment of existing buildings, with public facilities such as the Claremont Clinic, the library and public transport interchange, the construction of the Claremont Boulevard and the R450m redevelopment of the Pick n Pay site.”