Cape Town. 030714 - Cape Town’s seaside mansions on the Atlantic coast are being sought after again following the post-2008 slump in the property market – and many of the buyers are foreigners paying cash. The average price for a house on the Atlantic side of the peninsula in the first quarter of this year was R11.2 million compared to R8.1m for the same period last year. Although the number of houses sold on the Atlantic seaboard has stayed almost the same as the first quarter of 2013, the value of the sales this year increased by 41 percent. The V&A Waterfront. Picture Leon Lestrade. Story Jan Cronje

Cape Town - The V&A Waterfront has allayed fears that its R2.5 billion expansion of the Silo Precinct will create a traffic nightmare for visitors and commuters.

“The bulk in the Waterfront is developed with parameters of the original development agreement, and the roads have been constructed to handle the full development once all the bulk in the V&A has been used,” said the chief executive, David Green.

The Waterfront has announced that work has started on the remaining six silo buildings that will make up the Silo Precinct. When completed in 2017, an estimated 2 500 people will work and live in the area.

The buildings going up include a hotel, mixed-use retail and office space and luxury residential flats.

The project will add more than 1 000 parking bays to the Waterfront.

But the De Waterkant Civic Association appealed for information about improving access to the Waterfront, as it was “already a major problem”.

Green said the mix of developments was carefully considered to engineer as much “counter-cylindrical” traffic movement as possible. The residential, hotel, museum and gym traffic would peak at different times to the offices.

The developments would have a strong emphasis on pedestrian and non-motorised transport access.

[email protected]

Cape Argus