A artist’s impression of Redefine’s newly upgraded The Towers.
Redefine Properties’ redevelopment of the historic The Towers building on the Foreshore has added another iconic structure to Cape Town’s central business district.
The Towers, formerly known as the Standard Bank Building, is one of several developments recently completed or underway that will transform the Foreshore into a bustling commercial district. The Cape Town Central City Improvement District has put the value of investment in property in the CBD over the past decade at R26 billion. The R533 million “green-over” of The Towers is one of several developments expected to push investments in the CBD to over R30 billion by 2020.
By creating a vibrant pedestrian space between the Civic Centre and Hertzog Boulevard Square, The Towers has contributed to the regeneration of the Foreshore, long a dormant part of the city. Other significant projects near The Towers include the expansion of the Cape Town International Convention Centre and construction of the new Christiaan Barnard Memorial Hospital.
“Redefine Properties has redeveloped a well-located, under-parked, historical building and upgraded a formerly under-utilised public space to add significant value to this part of the city,” says Andrew Konig, Chief Executive Officer of Redefine Properties.
Aware of the importance of creating accessible and appealing communal spaces, Redefine has linked the ground floor lobby on the North Tower to the South Tower via an integrated walkway that allows new retail tenants to access the public atrium. This creates a dynamic pedestrian space between the Civic Centre and Hertzog Boulevard Square. The Towers boasts an exciting retail mix with tenants including Redefine Properties Cape Town, Standard Bank of South Africa, Fairbridges Wertheim Becker Attorneys, three embassies and a flagship Food Lover’s Eatery.
The upgrade, which started in February 2013 after five years of planning, includes an additional 13-floor parking area as well as the two new glass towers and landscaped public atrium. Among the green features are a flush glazed system on the external façade that will reduce cooling demand by approximately 30% along with energy-efficient lighting in public spaces. Redefine is also investigating photovoltaic panels for the tower roofs. The striking glass façade includes illuminated fins depicting Cape Town landmarks such as Table Mountain, Signal Hill and the Cape Peninsula. All this work was undertaken with minimal disruption to the tenants’ daily activities.
Daryl Sher, Development Manager of Redefine Properties, says it was a challenge to make changes to an existing building that was not energy efficient. But the “green-over” was in line with Redefine Properties’ commitment to creating sustainable buildings that use the latest environmentally responsible technologies. “Greener, more energy-efficient buildings also attract better quality tenants,” says Sher.