Inner-cities are attractive to investors and tenants for a variety of reasons. Travel times are reduced. Fuel and energy costs are lower. You can shrink your carbon footprint. Plus, these are places that offer work and economic opportunities, access to education, the everyday convenience of public transport, and proximity to shops, hospitals and pharmacies, health clubs, bars, restaurants, coffee shops, night clubs and more.
When inner-cities are rejuvenated, crime rates are generally lower and quality of life goes up. No city is immune to homelessness or poverty, but with an influx of people and the spending power they bring, it becomes a more attractive place to live – vibrant and alive, with round-the-clock activity and constant renewal.
There are also physical and psychological benefits. It’s easy to live a more active life because everything you need is close by, so you’re more inclined to walk to where you need to be, and more likely to run into people than had you been driving or stayed in.
An inner-city is also attractive for the connectivity that it offers – and not only the technological variety. Humans are an interconnected species and contact with each other keeps us going.
The inner-cities of today foster social bonds because there are opportunities for people to run into each other – think of shared workspaces, for example. And with less reliance on cars, there’s a migration towards public transport and here too you can interact with people.
Urban dwellers also benefit from developments that house different types of property – for example retail, residential and commercial spaces – because of the convenience, security and lifestyle they offer. Mixed-use developments make it possible to live and work in close proximity, and to meet all your daily needs without having to drive to a mall, commute or spend time in traffic. The Amdec Group’s philosophy of building communities through real estate has earned it a reputation for constructing and managing mixed-use precincts that are exceptionally safe. Because the big advantage that these developments have over regular inner-city areas is that they’re easier to secure because the borders are more defined.
Mixed-use developments, like the Amdec Group’s Harbour Arch that’s coming to Cape Town in the next few years, are modern, multi-functional neighbourhoods. Compact and walkable, they enable happy, healthy communities by creating an environment that fosters social engagement and regular activity. The fact that there are fewer cars means less pollution and healthier lifestyles. Where different types of property co-exist in a single location, security becomes easier to maintain because there’s movement during the day when the shops and offices are in use, and at night there is life in the residential parts of the development, and in bars and restaurants. This round-the-clock activity acts as a natural deterrent to crime and encourages people to spend more time together.
Twenty-first century city life is transforming our view of inner-cities and mixed-use developments like Harbour Arch will be playing their part in creating a better life in urban areas – significant, if you consider the rate of urbanisation, not only in South Africa, but across the world.