New Life Rights development under construction at the V&A Waterfront, Cape Town, with 147 apartments for adults aged 60 and older🏘️🌊 Details about the development: • Development name: The Bower • Completion date: November 2027 • Key handover to residents: 1 February 2028 • Location: right in front of the InterContinental Table Bay Hotel on the Breakwater Boulevard in Granger Bay • Amenities include: gym, wellness centre, yoga studio, indoor heated lap pool and vitality pool, restaurant, bar, library lounge, cinema lounge, meeting spaces, communal gardens level 1 and 5, 24/7 Medical on-site support, 24-hour nursing, 14-unit memory care centre • Architect: KPF The development has 147 apartments in total, made up of: • 47 × 1-bedroom apartments - average total area of 86m² • 10 × 1.5-bedroom apartments - average total area of 131m² • 73 × 2-bedroom apartments - average total area of 131m² • 13 × 2.5-bedroom apartments - average total area of 246m² • 3 × 3-bedroom apartments - average total area of 305m² • 1 × 3.5-bedroom apartment - average total area of 266m² The Bower uses a Life Rights model - basically you’re paying for the right to live in a specific apartment for the rest of your life, while also getting access to the community’s facilities, services and healthcare. You don’t own the apartment in the traditional sense, so you can’t sell it on the open market whenever you want. When a resident leaves or passes away, the apartment is handled in accordance with the Life Rights agreement, which outlines how the apartment is reallocated and what happens to any refundable funds, including any applicable deductions. This development forms part of the larger expansion plans for Granger Bay - a R24 billion development along Cape Town’s coastline, with the project expected to roll out over roughly 10 to 15 years. There are still a number of approvals required before it can move ahead, including approval from national government for any proposed land reclamation. The development could eventually provide homes for around 6,000 people and, according to the plans, support up to 125,000 jobs by 2046. There is also a proposal for a 1km coastal park and promenade, which would open up more of the shoreline to the public and create better connections between the area and the sea.