Cape Town’s Golden Acre Precinct is being redeveloped in a R1.2 billion project that aims to turn a long-neglected commuter and retail hub into affordable rental housing with safer public spaces.

415 Rentals in the CBD

During a site walk-through on 22 January, Executive Mayor Geordin Hill-Lewis said the Golden Acre redevelopment is a major investment in the inner city and a step towards strengthening a vital commuter precinct. The plan centres on converting the existing office tower into inner-city residential rental accommodation.

The development team says the project will deliver 415 rental units aimed at working professionals who need to live close to transport and jobs in the Cape Town CBD. Lesego Majatladi, a director at Gracht Asset Managers, said the apartments are designed to help close the city’s “missing middle” housing gap.

Developers say rentals are intended to sit below market rate. As an early guide, studio apartments are expected to start at about R10 000 a month, although final pricing may change as construction progresses.

Safety and Commuter Routes in Focus

Developer Roelof Delport said safety has been a major focus because the precinct has battled with pickpocketing and other crime. He said the project is adding more security and has called for stronger peace officer patrols in the surrounding area, noting that many incidents have historically happened outside the property.

The next phase is expected to upgrade the retail environment and surrounding public spaces. Plans include improved lighting, better pedestrian flow and safer commuter routes, including upgrades linked to the pedestrian bridge connecting the precinct to the transport interchange.

Why Golden Acre Matters

Golden Acre sits at the centre of Cape Town’s largest public transport interchange, next to the main taxi rank, the rail station and the central bus terminus. Since the late 1970s it has been a key gateway for thousands of commuters moving through the CBD each day.

Mayoral committee member James Vos called the redevelopment an economic catalyst that can boost foot traffic, support local businesses and create jobs by bringing people closer to work opportunities.

Construction on the residential conversion is under way. The development team expects the first tenants to start moving in from 1 December 2026.