The Development of the V&A Waterfront: How It Began, How It Grew, and Where It’s Going
The V&A Waterfront didn’t start as the polished mixed-use precinct we know today. Its story is one of transformation: from rough harbour docks to one of the most visited destinations in Africa.
From Working Harbour to Reclaimed Land
Originally, much of what is now the Waterfront and the Cape Town Foreshore used to be ocean. Between the 1930s and 1940s, the city undertook large-scale land-reclamation projects to support a modernising harbour. The coastline was pushed outward by more than a kilometre, creating new land for future development.
Although the harbour remained primarily industrial for decades, that reclaimed land eventually created the foundation for what became the Waterfront.
The 1980s: The Big Turning Point
In 1988, Transnet established the V&A Waterfront company with a clear mandate: take the old docklands around the historic Victoria and Alfred Basins and turn them into a vibrant, people-focused precinct.
By 1990, the first phase opened. Shops, restaurants, offices, parking, and early residential conversions began reshaping the area. The idea was simple: keep the harbour working, but open the space up so the public could also enjoy it.
This mixed-use approach — retail, tourism, culture, residential, offices, and public space — is what made the Waterfront stand out globally.
The 2000s–2020s: Culture, Commerce, and Community
As Cape Town grew, the Waterfront grew with it:
- Old industrial buildings were repurposed into museums and cultural landmarks, such as the Zeitz MOCAA.
- Retail expanded, becoming a blend of traditional shopping and curated African design.
- Hotels, conference venues, high-end apartments, and creative workspaces were added.
- Sustainability became a core priority: solar energy, water-saving systems, recycling operations, and even a desalination plant were implemented to reduce reliance on the grid.
The Waterfront slowly shifted from a tourism hotspot to a living, breathing mixed-use neighbourhood with thousands of residents, workers, and daily visitors.
What’s Coming Next: The Future of the V&A Waterfront
The biggest evolution is still ahead. The next 10–20 years will reshape the edge of Cape Town again — much like the reclamation projects of the previous century.
1. The Granger Bay Mega Development (R20–R24 Billion)
This is the Waterfront’s next major chapter. Starting from 2025 onward, construction will roll out in phases:
- New reclaimed land extending the Waterfront further into the Atlantic
- Residential developments (from high-end to more accessible units)
- Hotels, leisure precincts, and hospitality spaces
- A redesigned, walkable coastline with parks, beaches, and public spaces
- A protected bay area for water sports and marine activities
- A coastal walkway linking the Waterfront to Mouille Point and beyond
This is a generational project — the kind that permanently shifts the city’s layout and property dynamics.
2. More Housing + More Mixed Use
The Waterfront has openly stated it doesn’t want to become a “rich-only” zone. Future phases aim to include:
- Mixed-income living
- Retirement living
- Wellness and healthcare developments
- Flexible new office and creative spaces
This is intended to increase diversity, sustainability, and long-term economic stability.
3. Sustainability: From Priority to Identity
Expect major upgrades in:
- Local energy production
- On-site water treatment and reuse
- Eco-friendly building standards
- Low-impact coastal engineering
As Cape Town continues to struggle with water risk, power issues, and climate pressures, the Waterfront wants to operate semi-independently.
4. Heritage and Environmental Checks
Large-scale coastal redevelopment requires environmental approval and heritage protection. This means:
- Heritage impact assessments
- Public consultations
- Coastal engineering studies
The Waterfront’s future depends on balancing development with preservation — a challenge, but also a strength.
What This Means for Cape Town
The Waterfront is effectively adding new coastline, new public spaces, and new property inventory in a city with limited developable land. That means:
- New residential and commercial opportunities
- New lifestyle and leisure nodes
- Higher long-term demand for Waterfront-adjacent property
- Broader appeal to both local and international buyers
- An uplift in surrounding suburbs such as Mouille Point, Green Point, and even the CBD
The Waterfront remains a safe, well-managed precinct — a major draw for investors.
LAKE PROPERTIES PRO-TIP
Waterfront and waterfront-adjacent properties perform exceptionally well because they combine three things that rarely align in Cape Town: security, walkability, and long-term capital appreciation. If you’re advising buyers or considering stock to specialise in, look at properties near the future Granger Bay expansion. Early positioning in a growing precinct tends to generate the strongest returns.
Call to Action
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Contact Lake Properties today and let our experts guide you to your ideal property.
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Russell
Lake Properties
ww.lakeproperties.co.za
info@lakeproperties.co.za
083 624 7129
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