Most locals would know that De Waterkant is also known as the Cape Quarter. I never realised, though, that it had previously been District 5, sibling to the infamous District 6.
Way back in the 1700s and 1800s it was the home of many Malay slaves, and then in about 1966 the government of the day forcefully relocated these people away from their sea view and mountain shade to the comparatively barren and flat Cape Flats. Unfortunately for the government, and definitely not according to their plan, it was not the upper crust that moved into District 5 - it was the bohemian liberals, free-thinking students, and proudly gay population. *snigger*
Today De Waterkant is still an energetic and colourful area with old buildings and cobble streets. It's an area that you should spend at least an afternoon exploring. Here's a map with a place marker to help you find this road. :)