THE eThekwini municipality will next week launch the start of the construction of the 750m-long, 30m-wide promenade that forms part of the multibillion-rand Point Waterfront development.
Mayor Zandile Gumede said, in an interview with The Mercury this week, that it was all systems go for the construction of the development and that the promenade will be elevated to so that it fully accommodates the watersports clubs and seine netters in the area.
“The clubs will be accommodated from below the promenade and they will be able to launch from there,” she said.
Gumede said the contractors were already on site and were ready to start with the piling.
It is expected that the promenade, which will stretch from uShaka to Vetch's Pier, will be open for use by mid-2019.
The mayor said she was proud of the fact that there was a huge empowerment component in the project, with an estimated 38% of the work being subcontracted to local small and emerging contractors.
This is part of the city's efforts to ensure greater participation in the economy and skills transfer to emerging contractors, she added.
“Approximately 11 000 construction phase jobs will be created per annum, and 6 750 more permanent jobs are likely to be created,” she said.
The construction of the promenade will lead to the start of other phases of the development, which include a shopping centre, high-end residential development and a hotel. These are expected to be launched later in the year and early next year.
Phase two of the Point Waterfront Development, planned for the next three years, will include road system upgrades and public transport bays and bus stops to augment street parking for the precinct, Gumede said.
She said the project would not only give a facelift to the Point area but would yield a range of measurable positive impacts in the area and the CBD, in respect of job creation and rates revenue.
An increase of about 10% on values of properties in the Point area, and that of 5% for properties in the CBD, are just some of the envisaged positive spin-offs.
The development is also expected to boost the city's coffers, with an estimated R200 million expected to be generated per annum in rates revenue.
Another phase of the development expected to start soon is an upgrade to the water main along Anton Lembede and Mahatma Gandhi streets. This is in response to the ageing infrastructure and is in line with the city's densification strategy.
The upgrade to the water and sewer reticulation in the Point Waterfront Precinct was completed last year and is already in use.