The City of Cape Town’s Mayoral Committee has greenlit a major private sector upgrade for the Bellville Athletics track and Velodrome by the successful bidder in the 2009 tender for the development of the precinct. The recommendation will now go to the City Council for final approval, by clearing the path for a public-private partnership to transform the 11.47-hectare site into a premier world-class sporting and economic hub.
Reportedly, this development proposal is a firm commitment to the local sporting community i.e. upgrading the Bellville athletics track and the retention of public access.
Under the proposal by the successful tenderer, the City of Cape Town will lease the athletics track and Velodrome to the developer on a long-term basis, who will be responsible for upgrading those facilities and their continued operation as event venues. The developer will further purchase identified vacant erven for mixed-use development of the precinct, surrounding the Velodrome and athletics track.
Mayor Geordin Hill-Lewis stated that after years of careful work and negotiation, the City has finally reached a deal that will upgrade the Bellville athletics track and retain it as a public facility. While also upgrading the Velodrome into a world-class concert and events space.
With a development partner investing hundreds of millions of private sector funding, the upgraded precinct and facilities will be well-maintained into the future for athletes, schools, and residents. This is a win-win scenario that the City of Cape Town and rate-payers could never have achieved with municipal funding alone. What’s more important, is the funds raised from the transaction will also benefit many more communities across the city through upgrades to regional sports facilities.
The upgrade to sporting facilities will enable:
- A world-class, multi-purpose indoor arena with a seating capacity of approximately 14 000 to 18 000 spectators.
- A modern, competition-compliant athletics surface.
- Improved spectator facilities and accessibility.
- Support for schools, clubs and community athletics programmes.
The lease of the Velodrome and Athletics track is for an initial period of 50 years, with a conditional option to renew for a further 10 years. Public access and continued public ownership are fundamental to the structure of the transaction.
Considering this, Member of the Mayoral Committee for Economic Growth and Tourism – Alderman James Vos stated that the development proposal will unlock the full potential of the Velodrome, by positioning it as a bigger and better venue capable of hosting world-class events and gatherings. The surrounding land will also be developed for mixed-use purposes, generating meaningful economic benefits and a massive stimulus for the Bellville CBD and the broader N1 economic corridor.
According to Vos, this transaction will transform the Bellville Velodrome into a world-class events venue, complemented by mixed-use development on the adjacent undeveloped land, including retail, commercial and residential opportunities. The upgraded athletics track remains as an important part of the vision, by ensuring the facility, that continues to support sport while unlocking its broader economic potential. By partnering with the private sector, they are optimising this public asset to attract events, stimulate economic activity, create jobs, and generate both short- and long-term revenue streams.
Alderman James Vos also explained that this is how they approach the smart optimisation of the City’s asset portfolio within the Property Development Department of the Economic Growth Directorate, by ensuring lasting economic benefits for communities while the City retains these assets for future generations. It is exciting to see this transaction finally reaching the finish line; it has felt like a marathon at times, and it’s rewarding to now think about what lies ahead.