New Reporter
09-10-23, 12:36
URA eyes rezoning of one-north land parcel as residential, and intensification of land use in several sites
Oct 09, 2023
A LAND parcel bounded by Media Circle and one-north Avenue, currently zoned for business-park use, is being proposed for a high-density residential development. Elsewhere, land use in five other sites already earmarked for residential use will be intensified for this purpose.
On Friday (Oct 6), the Urban Redevelopment Authority (URA) said that the residential development in Media Circle will support the demand for housing in one-north and enhance the district as a vibrant, mixed-use business park.
More information on the development plans for the site will be announced when ready, said URA.
Christine Sun, senior vice-president of research and analytics for OrangeTee & Tie, said: “Given that many companies have set up businesses that span from healthcare and media to bio-medical science, providing more residential homes to support employees in one-north is timely.”
She suggested that with private housing units such as One Rochester and One-North Residences in the area, it would be a good move to add some public housing there.
Mogul.sg chief research officer Nicholas Mak said the Media Circle site is likely to be developed into a private residential property with shops, restaurants and cafes on the ground floor. It could yield 280 to 310 condominium units and where residents can “work, live and play”.
He said: “Having a larger live-in population could also bring more life to this location after working hours and over weekends.”
Meanwhile, the gross plot ratio of land parcels along Bayshore Road, currently zoned residential, will be raised from 3.5 to 4.2.
URA said last June that the future residential estate in Bayshore will be a mix of public and private housing, and be supported by amenities and recreational options.
The Bayshore precinct has been considered a possible location for Plus flats, given its proximity to MRT stations and East Coast Park.
Plus flats, a new category of public housing, will be located in choicer locations. They come with more subsidies, but have strict curbs on resale, such as a 10-year minimum occupation period and a clawback of the subsidy at the first resale.
Lee Sze Teck, senior director of data analytics at real estate agency Huttons Asia, said that at a plot ratio of 4.2, the Bayshore site will be one of the most densely built plots along the East Coast.
“The site is estimated to yield more than 1,000 units. It will be directly connected to Bayshore MRT station and will likely be private housing.”
Over in Tengah Garden Avenue, a land parcel is being proposed to be rezoned residential with commercial use, with a gross plot ratio of 3.0.
URA said: “The proposed amendment is to facilitate the implementation of a mixed-use development next to the upcoming Hong Kah station on the Jurong Region Line, to meet the housing needs of Singaporeans and to provide Tengah residents with amenities.”
Mak said: With an estimated land area of more than 83,200 square metres, the site could yield either 1,950 to 2,000 Housing and Development Board flats, or 2,850 to 2,900 private apartments.”
Lee noted that Tengah Town Centre site has a “sizeable” retail component.
“The demand for mixed-use development has been strong in the past few years, and this site should see healthy demand when it is launched for sale.”
Many Build-to-Order projects in Tengah have been launched in recent years, among them Plantation Village, Plantation Grange and Garden Vines@Tengah. The units range from two-room flexi to five-room flats, but larger three-generation flats are also available in Plantation Grange.
An executive condominium site in Plantation Close in Tengah was awarded to Hoi Hup Realty and Sunway Developments for S$348.5 million in September, at a record land rate of S$703 psf per plot ratio.
The plot can yield an estimated 495 units, and analysts expect the estimated launch price to range between S$1,450 and S$1,550 psf.
A land parcel along Margaret Drive, next to Queenstown Primary School and Skyville@Dawson, is set for a step-up in its gross plot ratio to 4.2. This could mean that the residential development coming up there may be taller than the 47-storey Skyville@Dawson, with its 3.5 gross plot ratio.
Land parcels in Canberra Crescent and Dairy Farm Walk, zoned as residential, have also been proposed for intensification. This will “allow for optimal use of land for future residential developments”, said URA.
Lee said: “As long as the capacity of roads and the MRT network can support a higher traffic intensity, there is little reason why the plot ratio of sites in Singapore cannot be increased.”
https://www.businesstimes.com.sg/property/ura-eyes-rezoning-one-north-land-parcel-residential-and-intensification-land-use-several
Oct 09, 2023
A LAND parcel bounded by Media Circle and one-north Avenue, currently zoned for business-park use, is being proposed for a high-density residential development. Elsewhere, land use in five other sites already earmarked for residential use will be intensified for this purpose.
On Friday (Oct 6), the Urban Redevelopment Authority (URA) said that the residential development in Media Circle will support the demand for housing in one-north and enhance the district as a vibrant, mixed-use business park.
More information on the development plans for the site will be announced when ready, said URA.
Christine Sun, senior vice-president of research and analytics for OrangeTee & Tie, said: “Given that many companies have set up businesses that span from healthcare and media to bio-medical science, providing more residential homes to support employees in one-north is timely.”
She suggested that with private housing units such as One Rochester and One-North Residences in the area, it would be a good move to add some public housing there.
Mogul.sg chief research officer Nicholas Mak said the Media Circle site is likely to be developed into a private residential property with shops, restaurants and cafes on the ground floor. It could yield 280 to 310 condominium units and where residents can “work, live and play”.
He said: “Having a larger live-in population could also bring more life to this location after working hours and over weekends.”
Meanwhile, the gross plot ratio of land parcels along Bayshore Road, currently zoned residential, will be raised from 3.5 to 4.2.
URA said last June that the future residential estate in Bayshore will be a mix of public and private housing, and be supported by amenities and recreational options.
The Bayshore precinct has been considered a possible location for Plus flats, given its proximity to MRT stations and East Coast Park.
Plus flats, a new category of public housing, will be located in choicer locations. They come with more subsidies, but have strict curbs on resale, such as a 10-year minimum occupation period and a clawback of the subsidy at the first resale.
Lee Sze Teck, senior director of data analytics at real estate agency Huttons Asia, said that at a plot ratio of 4.2, the Bayshore site will be one of the most densely built plots along the East Coast.
“The site is estimated to yield more than 1,000 units. It will be directly connected to Bayshore MRT station and will likely be private housing.”
Over in Tengah Garden Avenue, a land parcel is being proposed to be rezoned residential with commercial use, with a gross plot ratio of 3.0.
URA said: “The proposed amendment is to facilitate the implementation of a mixed-use development next to the upcoming Hong Kah station on the Jurong Region Line, to meet the housing needs of Singaporeans and to provide Tengah residents with amenities.”
Mak said: With an estimated land area of more than 83,200 square metres, the site could yield either 1,950 to 2,000 Housing and Development Board flats, or 2,850 to 2,900 private apartments.”
Lee noted that Tengah Town Centre site has a “sizeable” retail component.
“The demand for mixed-use development has been strong in the past few years, and this site should see healthy demand when it is launched for sale.”
Many Build-to-Order projects in Tengah have been launched in recent years, among them Plantation Village, Plantation Grange and Garden Vines@Tengah. The units range from two-room flexi to five-room flats, but larger three-generation flats are also available in Plantation Grange.
An executive condominium site in Plantation Close in Tengah was awarded to Hoi Hup Realty and Sunway Developments for S$348.5 million in September, at a record land rate of S$703 psf per plot ratio.
The plot can yield an estimated 495 units, and analysts expect the estimated launch price to range between S$1,450 and S$1,550 psf.
A land parcel along Margaret Drive, next to Queenstown Primary School and Skyville@Dawson, is set for a step-up in its gross plot ratio to 4.2. This could mean that the residential development coming up there may be taller than the 47-storey Skyville@Dawson, with its 3.5 gross plot ratio.
Land parcels in Canberra Crescent and Dairy Farm Walk, zoned as residential, have also been proposed for intensification. This will “allow for optimal use of land for future residential developments”, said URA.
Lee said: “As long as the capacity of roads and the MRT network can support a higher traffic intensity, there is little reason why the plot ratio of sites in Singapore cannot be increased.”
https://www.businesstimes.com.sg/property/ura-eyes-rezoning-one-north-land-parcel-residential-and-intensification-land-use-several