Muizenberg's 'Peppermint Slum' disappearing

Less than a year after facing almost certain demolition, a dilapidated Muizenberg building formerly dubbed the "Peppermint Slum" is rapidly being transformed into an upmarket apartment block.

The remarkable transformation of the Main Road eyesore into a multimillion-rand complex called Le Diamante would be completed within three months, said developer Rika Lourens of Demindex Properties.

After that, she intended to do whatever it took to ensure that the few remaining decaying buildings in the seaside town were taken care of - including the Peppermint Slum's more notorious cousin, the Don Pepe building.

Lourens is passionate about Muizenberg's revival, and calls it an "investors' paradise".

"Muizenberg is changing. It is an investors' paradise, but it won't be for long," she said, adding that prices were climbing because of the change in the town's fortunes.

She bought the "Peppermint" property at an auction late last year at a price of R12.8-million, and said she immediately had the property sprayed white.

The overhaul would cost R10m, and when "the ugly duckling has become a swan" it would boast an outdoor lap pool, indoor heated pool, as well as a sauna and gym.

Most of its apartments overlook the emerald green waters of Muizenberg beach - where surfers and dolphins could be seen playing during the Cape Argus visit last week - and have expansive views stretching as far as the Hottentots Holland mountains.

Lourens said she felt a great sense of achievement, not only with the building, but also because of the greater significance the renovation had for Muizenberg.

For some years, Muizenberg's slum buildings had overshadowed its more positive aspects, she said.

But the town had now taken a route similar to that of the Cape Town central business district, Sea Point and the East City precinct, where previously dangerous or unsightly areas had gained a new and improved lease on life, she said.

Lourens said the community and police had worked together admirably to return Muizenberg to its former glory.

There were only a handful of properties that still needed fixing and, driving through the town, Lourens enthusiastically pointed these out. But in contrast to recent years, they are now almost inconspicuous behind the shiny glass fronts of revamped shops and meticulously restored historical buildings.

Cape Argus

Posted at 09:42AM Feb 16, 2010 by Editor in Residential  |  Comments[2]