Let's rebuild Jozi, block by block

11 June 2014 - 02:00 By David Shapiro
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DAVID SHAPIRO: Deputy chairman of Sasfin Securities
DAVID SHAPIRO: Deputy chairman of Sasfin Securities
Image: SUPPLIED

Last week Bloomberg News revealed that a newly renovated penthouse condominium in downtown Manhattan's Woolworth Building would be put on the market at $110-million (R1.2-billion), almost twice the previous record listing for a home in the area.

The well-preserved, neo-gothic skyscraper is an iconic New York City landmark. Located in the financial district, it is a short distance from the World Trade Center site. Retail tycoon Frank Woolworth, eager to show off his recently acquired fortune, constructed what in 1913 was the tallest building in the world. It took 17 years before Wall Street, The Chrysler Building and the Empire State Building surpassed the 57-storey edifice in height.

The Woolworth Building is not the only historical structure undergoing a makeover. The Empire State Building is being renovated and modernised in a $550-million retro-fit planned to restore the art deco masterpiece to its original design. The revitalised building and popular tourist destination is not only attracting high-paying tenants, but is re-energising an area that had lost much of its charm and lustre.

The preservation of the city's architectural heritage is a response to a global move by young professionals and retirees back to city life. Pensioners, who left for the suburbs to start families, find urban existence safer and financially more affordable. The world's major metropolises have spruced up parks, improved security and upgraded transport and infrastructure. For the elderly, there is a greater choice of doctors and hospitals and a wider range of accessible recreational and entertainment programmes.

For young professionals, cities are social and financial hubs: dynamic, energised and job-rich. Schools and universities are better, restaurants and leisure facilities are in abundance, and finding a soulmate is easier. Intense competition in the populated metropolitan areas moderates the cost of food, rent, laundry, clothing and transport.

Safe-haven status and the search for class and style are also enticing the globe's super-rich to set up home in the world's capitals. Private schools, high-quality universities, theatres and designer shopping have lured Russian and eastern European oligarchs, South American entrepreneurs and Asian billionaires to snap up luxury homes in London, New York and Sydney at outrageously high prices.

Johannesburg has all the attributes to be part of this emerging migration. It has a vibrant business pulse, diverse culture, a well-established infrastructure, first-rate shopping malls, a wide choice of restaurants, golf courses, cricket, rugby and football stadiums, health clubs, the best weather in the world and an affordable living standard. An exhibit of landmark buildings in downtown Johannesburg, currently on display at the Gordon Institute of Business, pays tribute to these claims, illustrating the city's architectural legacy and design influences.

But years of neglect, incompetence and mismanagement have downgraded Johannesburg's legitimacy as a great city. The standard of education in public schools has plunged, formerly acclaimed hospitals are national disgraces and our green lungs are litter dumps. Our high crime rate, sorry state of roads, deadly drivers and vagrant-infested intersections are likely to send visitors packing.

If we are to change course, we could begin by learning from Singapore's ambitious land reclamation programme to improve the quality of life. The greening exercise involved dredging waterways of refuse and sewage, planting trees and developing parks and nature ways. Today Singapore is a major commercial hub, dependent on trading and manufacturing. It ranks highly in education, healthcare and global competitiveness and is the third-richest country in terms of GDP per capita. Authorities show little mercy for vandalism, rioting and rape, and impose the death penalty for murder and drug trafficking. Its streets are safe, parks clean and roads free of accidents.

It's taken Singapore five decades to reach its goal. Unfortunately we haven't that time on our side, but, regardless, we can commence by reclaiming lost ground and rebuilding our city, block by block.

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