Stag Properties is set to launch a R156 million two-phase development in Cape Town’s East City precinct, which, says Stag’s CEO, John Schooling, will be one of several projects completely transforming this area and “restoring it to its rightful place in the city’s life”.

Known as the City Edge Hotel and Suites, the new complex will consist of 166 apartment units, 40 of which will form part of a Relais Hotels managed rental pool. All the apartments will be sold under sectional title.

Cape Town Partnership’s Chief Executive, Andrew Boraine, says, “This well-positioned neighbourhood is rapidly being transformed and I am confident that the City Edge development will help to accelerate this process and add much-needed residential space to the central city.”

The 6,700 square metre site is on the corners of Mount and Caledon Streets. It will be almost entirely covered by basement parking, above which will rise two and three storey apartment blocks.

These have been designed in consultation with Heritage officials and the architects, have ensured that the complex will have a Cape Vernacular style and an atmosphere reminiscent of the Victorian and earlier buildings of this precinct.

“The design creates pedestrian-friendly living, with many courtyards and walkways and incorporates such Cape features as pitched roofs, dormer windows, private patios and door and window mouldings. I believe our architects have captured the correct feel and the atmosphere for this precinct,” says Schooling.

The hotel suites will all be self-catering with electric ovens and hobs, gas stoves and microwave ovens. They will also be air-conditioned and the complex will have full wi-fi coverage. There will also be an Internet café in the complex.

The apartments will vary in size from 49m2 to 80m2. Those in the hotel suites will be fitted out and decorated by Caroline Osborne of Seed Design and Schooling has promised that, although Relais Hotels will be aiming for a three star grading, the fittings will very definitely be of a four star standard.

The hotel operation will be backed up by a coffee shop for the residents’ use, sited on Caledon Street.

Work is expected to start early in 2009 and to be complete in the first half of 2010.

Schooling said that prices of the units will start at R820 000, with the top and most luxurious units costing R1,5 million.

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