A new R120 million development for Hout Bay has been hailed as a major vote of confidence in the area and a boon for the local economy.
St James Place in Empire Avenue is next to a wetland, with views of the surrounding mountains.
Final touches are being added to the complex, which had an official launch last week, with occupation planned for February next year.
Godwin Malisela, who lives nearby, described the development as a “breath of fresh air”, saying, “The look is appealing and the location of this place is also very nice. I was just happy to see a lovely modernised building going up instead of these old and ugly buildings.”
He added: “Hout Bay is known as a tourist destination, but those people visit and leave. It will be really nice to see some new neighbours for a change and hopefully this can boost our economy.”
Another neighbour, Christel Jacobsen, said the new development was what was needed to help Hout Bay back onto its feet, as many businesses were still suffering the effects of the pandemic.
“New businesses, developments and people always boost our economy. Hout Bay’s economy always thrived, until the pandemic came along. A new development always offers new opportunities.”
The new development comprises 30 two-bedroom flats, and six three-bedroom townhouses priced between R2.6m and R4.3m. The units range in size from 88m² to 154m², with two undercover parking bays and an exclusive use 31m² terrace with views of Little Lion’s Head and the valley.
There are also lock-up storerooms available to purchase in the undercover parking garage.
Principal property practitioner Jan van Eck said St James Place was a new development by William Thompson Homes of the UK.
“Such a significant investment by a foreign company shows great faith in Hout Bay as a suburb, and represents a significant boost to the local economy,” he said.
The launch function was attended by David and Grant Thompson of William Thompson Homes, who flew from London specially for the occasion, as well as the first buyers and members of the public.
