The V&A Waterfront, South Africa’s most popular tourist attraction and the site of some of the country’s most prestigious addresses, is adding retirement living to its portfolio.
Billed as a ‘later-living’ complex, The Bower is being built as part of the precinct’s ZAR24 billion Granger Bay expansion. Construction is set for completion in 2027 with occupation scheduled for February 2028.
Rubbing shoulders with the exclusive Hyatt Cape Town Edition and Intercontinental Table Bay hotels, the ZAR1.4 billion Bower development is being built on a prime site overlooking the Atlantic Ocean.
The 147 apartments offered under a life rights scheme range in price from ZAR9 million to ZAR40 million for a three-bedroom penthouse suite, reports Moneyweb. All apartments have direct outdoor access.
Under the life rights model residents are afforded lifetime occupation without the responsibilities of traditional home ownership, such as maintenance and upkeep. When residents die or leave, these rights are resold to the next occupier by the developer, with a pre-agreed percentage of the capital refunded to the former occupier (or their estate).
Designed by global architecture firm KPF, whose buildings are situated across the world from Manhattan and London to Singapore and Shanghai, the V-shaped Bower building encloses a communal garden
‘Every decision was shaped by how residents experience the ocean, the mountain and each other,’ said V&A Waterfront development executive Allan Nenguke.
‘We designed the building around a communal garden so that every apartment enjoys a private outlook while residents remain connected to the community below. Details drawn from Cape Town’s own landscape are worked into the facades themselves, so the building tells the story of its setting.’
Amenities include a library and cinema, concierge services, a restaurant and a bar, a gym and an indoor heated pool.
In addition, a healthcare partner will provide 24-hour nursing support, and a 14-unit memory care unit is also available.
