Growthpoint casts its vote for the GSCID

FLTR: Anthony Davies (Co-ordinator of the GSCID), Gregg Huntingford (Portfolio Manager Growthpoint Cape Town), David Stoll (Regional Manager of Growthpoint Cape Town)

 One of the largest property groups in South Africa has pledged its support for the Groote Schuur Community Improvement District (GSCID) on Thursday, 11 February.

Growthpoint Properties Limited is a major listed property investment holding company on the Johannesburg Stock Exchange. David Stoll, Regional Manager of Growthpoint Cape Town said: “As a board director of the Claremont CID (CIDC) and the Cape Town Central City Improvement District (CCID), I’ve seen firsthand the value that City Improvement Districts (CID’s) bring to an area. Not only do they improve the cleanliness and safety but also promote the upgrading of public space while enhancing property values. “It makes sense for us to be part of this initiative, particularly as we have seen the benefits in our property portfolios which are situated within other CID boundaries such as the CIDC and the CCID. We are excited to be part of the GSCID and what it will bring to this area.”

Special Rating Area’s (previously known as CIDs) are established in terms of a City of Cape Town By-Law. In the GSCID, levies will be charged to commercial property owners. Residential property owners will not be required to pay the levy but will benefit from a cleaner, safer, more pleasant environment.  

Anthony Davies, Co-coordinator of the GSCID said: “We are delighted to have the support of Growthpoint and would like to encourage other property owners in the area to sign up before the 25 February 2010.”

Davies, who spoke at the launch of the GSCID on February 4, said: “Communities need to form organisations to provide ‘top up’ services to those provided by local authorities, as the Mayoral Committee of the City of Cape Town had recently stated in the press that rates would possibly not be able to keep pace to cover all service delivery to communities.”

The GSCID campaign is growing with more and more commercial property owners signing to confirm their support of the GSCID initiative.  The University of Cape Town has already committed itself to sponsoring the establishment of the Groote Schuur Community Improvement District (GSCID) by signing 53 of its properties.

For more information or to download the consent form visit www.gscid.co.za or contact the GSCID office directly on 021 671 9462.

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