FUTURE OF BELLVILLE VELODROME REMAINS UNCERTAIN

City weighs redevelopment options

- GENEVIEVE SERRA

THIS week the City's Economic Growth Directorate confirmed that the fate of the iconic Bellville Velodrome was hanging in the balance.

Nearly a year ago, City Mayor Geordin Hill-Lewis confirmed that the property was back in the hands of the City following its earlier lease and management by a developer in 2019.

IOL previously reported that the agreement was fuelled by a dispute at the time with Devmet Property Development group, who had acquired the lease as they had to pay the City R25 million in 18 months before they could trade.

In 2009, Devmet Property Development group, including Devmark, won a tender to develop the 11.5 hectare Velodrome area into the R3 billion Galleria Development, an upmarket mixed-use neighbourhood.