Pretoria ‘beach’ owners sink plans for hotel, despite R3m planning costs

Pressure from homeowners’ association sees Blyde Riverwalk development return to core family, security values

2021-10-20 03:32:00 PM

Pressure from homeowners’ association sees Blyde Riverwalk development return to core family, security values

Pressure from homeowners’ association sees Blyde Riverwalk development return to core family, security values

This has had a major impact on the STLs who need the rental income to cover their bond payments. This group of owners claimed Balwin is pushing them out because it wanted to dominate the short-term lease market through its planned new development: the upmarket Mint Hotel.

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Balwin has denied the claim, but on Thursday the developers admitted, for the first time, to plans to build a hotel after months of speculation by homeowners. We believe that the discontinuation of the construction of the hotel is in the best interests of the The Blyde Estate, as well as all stakeholders concerned.

Balwin Properties CEO Steve BrookesBalwin now says it has received communication from several owners expressing concern about the development of the boutique hotel — and has decided to halt its plans.Balwin said in a statement: “These concerns predominantly revolve about returning the estate to a development focused on the prioritisation of the safety and security of all permanent residents and assurance that residents can freely and peacefully enjoy the lagoon area in a family-inclusive environment. headtopics.com

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