Devmet Property Developments, which acquired the prime property, has been in a dispute with the City after they were required to pay R25million to the City 18 months prior to the commencement of trading.
“Devmet subsequently on December 2, 2013 appealed this condition. The appeal was dismissed on February 9, 2015. Devmet subsequently took the matter on administrative review,” said Hein Ehlers, Devmark Property Group chief executive.
He said that at a meeting on December 14, 2014, chaired by deputy mayor Ian Neilson, the City of Cape Town and Devmet had met representatives of the cycling and athletics fraternities to discuss both the Velodrome and athletics facilities.
“The City of Cape Town, on March 23, 2015, issued the final notice of approval in respect of the subdivision, rezoning and consent use of erf 21750 Bellville into four portions, being the freehold portion to be sold to Devmet, the leasehold portions being the Velodrome, the athletics stadium and track and the remainder being the freehold portion to be retained by the City,” he said.
The approved rezoning consists of a basket of rights which includes retail, office, hotel, conference and residential uses under the General Business (GB1) zoning in terms of the development management scheme of the City.
“Furthermore, upon its approval of the subdivision of the property into a freehold portion to be sold to Devmet and the remainder of Erf 21750 Bellville to be retained by the City as well as the further subdivision, rezoning and consent uses, the City imposed the further condition which requires 'R25m must be paid by the developer to the City 18 months prior to commencement of trading',” Ehlers said.
The historic velodrome is reportedly run-down and badly maintained.
The public participation process regarding the control and management of the assets ended on Wednesday. Kenridge Hills Ratepayers Association said: “Everywhere you go in the northern suburbs, you are confronted with shopping centres and business parks. Don’t we already have enough of these facilities in the area?
"If the Bellville Velodrome and Athletics Stadium is demolished, where will our children be able to go to participate in athletic events?"
City spokesperson Luthando Tyhalibongo said: “The property is underutilised, and the City would like to use it as a catalyst for economic growth and for higher-intensity use.
"Combining the existing facilities with commercially viable development will ensure a sustainable development scenario.”@MarvinCharles17