22 INVESTMENT
22 INVESTMENT OPPORTUNITY VISTA PARK TWO AND THREE Serviced and accessible mixed-use developments on Bloemfontein’s urban edge. Vista Park 2 Location Economic sector Developer Project description Project development cost Interventions Jobs to be created Project status Issues to be resolved Project stakeholders South of Bloemfontein CBD, Mangaung Metropolitan Municipality Mixed-use property and services Mangaung Metropolitan Municipality The 150ha site is south of the Bloemfontein CBD within the municipal urban edge. The development adjoins the existing commercial area off Oliver Tambo street and there are nearby residential suburbs and an existing industrial area. The multiyear project (10-15 years) focusses on a mixed-use programme with high employment prospects linked to construction phases and permanent employment during operation. Vista Park 2 will provide 4 730 various property investment opportunities, residential and non-residential. R5.7-billion Upgrading of bulk infrastructure including relocation of bulk water and sewer line. Upgrading of Vereeniging Road. Construction of Vereeniging Road Bridge. 14 000 potential job opportunities Gazetted in 2020 as Strategic Integrated Projects. Planning approvals completed. Project funding Mangaung Metropolitan Municipality, Free State Department of Human Settlements, National Department of Human Settlement, private sector. Vista Park 3 South of Bloemfontein CBD adjacent to Vista University, Mangaung Metropolitan Municipality Mixed-use property and services Mangaung Metropolitan Municipality A multi-use construction and property development is planned for the site that is traversed by the M10 and is accessible to the N1 highway. OR Tambo Street (M30) connects the development with the CBD to the north. There is an existing residential suburb on the northern edge of the site and a large existing industrial area to the east. A total of 6 073 opportunities (residential and nonresidential) opportunities will be created. R6.8-billion Construction of link road was completed in 2023, budget R196-million.Civil and electrical infrastructure in Ext 257 is underway in FY 2023/24, budget R43.6-million. 14 000 direct and indirect job opportunities Gazetted in 2020 as Strategic Integrated Project. Services agreements for engineering infrastructure concluded. Project funding Mangaung Metropolitan Municipality, Free State Department of Human Settlements, National Department of Human Settlement, private sector
INVESTMENT OPPORTUNITY WAAIHOEK PRECINCT REDEVELOPMENT Waaihoek: reviving the inner city Naval Hill Redevelopment: enhancing a tourism gem Location Economic sector Immediately to the south of Bloemfontein CBD, Mangaung Metropolitan Municipality Urban regeneration Bloemfontein, Mangaung Metropolitan Municipality Tourism Developer Mangaung Metropolitan Municipality Mangaung Metropolitan Municipality Project description Project status Stakeholders Issues to be resolved Interventions Project cost Jobs to be created Waaihoek precinct is near the Bloemfontein CBD and to interchange zones. Its significant heritage value will unlock tourism potential if it is redeveloped: an urban park, restoration of the Old Fort Estate, an amphitheatre, pedestrian walkways and links between nodes, hawker trading zone, conversion of old power station into accommodation, galleries and offices. R20-million spent on planning and designs of Phase 1 (St Georges Bridge) Mangaung Metropolitan Municipality, Free State Provincial Government, national government departments, private sector Project funding Design completed for Phase 1, final precinct plan completed and presented to National Treasury R5.7-billion 5 000 possible job opportunities Naval Hill is a popular leisure and recreation spot providing exceptional views of the city and includes the 250ha Franklin Game Reserve. The park is an extremely popular spot and is valued for its natural beauty, biodiversity and historical significance. It is one of only two nature reserves in the world to be located in a city centre. Investment opportunities: • Cableway • Accommodation: lodge or hotel The Naval Hill Redevelopment Masterplan completed and approved. Bulk infrastructure available Mangaung Metropolitan Municipality, Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA), private sector Project funding • Majestic 8m Nelson Mandela statue erected • The Edge Restaurant developed • Parking area and pedestrian walkways paved • Planetarium developed R2-billion 1 000 job opportunities could be created
