Ponte Building

This is the Ponte building in Johannesburg, South Africa. At 173 metre (54 floors) it is the tallest residential building in South Africa. It is cylindrical to allow air and light into the residential units from the inside. It was completed during 1976 but was infested by a number of gangs during the 1980’s. This situation worsened during the 1990’s. There were even rumors of plans to turn the building into a prison. From the 2000’s attempts were made to reclaim and revamp the building. Rumors are sometimes worse than reality. There were many rumors that the first three to five floors were filled with garbage from the top floors.

There were various news papers speculating on the sale of the building and plans to convert the living units to up-market apartments. As can be seen from the picture it will be technically possible to construct an entrance into the parking garage directly from the main roads passing the building. The economic downturn apparently scuttled these plans.

I would like to see the building restored to its formal glory. The expected return on the cost to acquire and revamp the building would however send most financiers running for cover. It is a well known and integral part of the Johannesburg skyline. The Vodacom advert at the top of the building would probably add +/- R 18 000 000 to the value of the building. (My calculation based on the capitalized value of the potential income derived from the advertising rights.)

It is as a pity that bean counters (I am one myself) can sometimes scuttle the most beautiful dreams. Currently the building belongs to the Kemtston group. Apparently penthouse apartments are still available at a reasonable rate.