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Proposed high-rise development could add 300 homes in One-North (including Tengah, Bayshore Road and Margaret Drive)

Proposed high-rise development could add 300 homes in One-North (including Tengah, Bayshore Road and Margaret Drive)
PHOTO: Unsplash

The property Gods have answered your prayers (or well, URA has. Same difference)! With their proposed rezoning and amendments, the Urban Redevelopment Authority (URA) is catering to the growing hunger for homes in specific areas.

In this article, we will delve into these noteworthy projects (like the high-rise residential unit in one-north), along with insights from experts to guide you through these exciting developments.

High-rise residential unit in one-north: Shaping a vibrant community

In the heart of the bustling one-north business park, plans are underway to introduce approximately 300 new homes.

The proposed amendment involves rezoning a plot from a business park to a residential development, including commercial units on the ground floor. This strategic move aims to address the burgeoning demand for housing in the one-north area while transforming it into a dynamic mixed-use business park.

Location and details of the development

Situated between one-north Avenue and Media Circle, this 6,170 sq m land parcel might witness a significant transformation. If the proposed amendment is approved, its plot ratio could rise from 3.5 to 4.2, potentially leading to the creation of a vibrant community hub.

The development, located near Infinite Studios and Grab headquarters, could take the form of either a private or public project, catering to a diverse range of residents.

Currently looking for existing residential projects in the area? Check out One-North Residences or Blossoms By The Park. They're located closer to the one-north MRT station for easy access to public transportation.

Demand and market analysis

The one-north area faces high rental demand due to limited housing options, making this development a promising prospect.

Prospective residents for this project include HDB upgraders from nearby areas like Queenstown and Clementi. Tenants from the information and communications technology sector and biomedical firms are likely to be interested in this development. So, take note, investors!

Tengah Garden Avenue: A landscape of opportunities

Meanwhile, on the horizon of Singapore's development map, an 8ha land parcel along Tengah Garden Avenue awaits its transformation. With plans to increase its plot ratio, this area, equivalent in size to approximately 11 football fields, could usher in a new era of housing opportunities.

The proposal

The proposed amendment sets the stage for a mixed-use development adjacent to the future Hong Kah MRT station on the Jurong Region Line. While precise details are yet to be unveiled, industry experts speculate a potential yield of 1,950 to 2,000 flats, or 2,850 to 2,900 private apartments.

Considering the considerable number of Build-To-Order (BTO) projects in Tengah, this development is likely to be a private endeavour.

Bayshore Road: A glimpse of coastal living

Moving to the scenic Bayshore Road, a proposed increase in the plot ratio promises a captivating residential development along East Coast Parkway.

The amendment, raising the ratio from 3.5 to 4.2, is aimed at facilitating an upcoming residential project in the Bayshore precinct.

The strategic location

This site is anticipated to be directly connected to the future Bayshore MRT station on the Thomson-East Coast Line, enhancing its appeal. With the possibility of unblocked views of East Coast Park and the sea, this development could feature 800 to 900 flats or 1,200 private residential units.

Future developments: Beyond one-north and Bayshore Road

As Singapore's landscape continues to evolve, other areas are also in the spotlight.

Plans include raising the plot ratio for a land parcel in Margaret Drive, situated next to Queenstown Primary School.

Positioned amidst towering high-rise Housing Board projects, this site holds the potential to yield 300 to 350 units, contributing significantly to the growing housing market.

Wrapping up

As these developments unfold, we're all eagerly awaiting more detailed plans. If you're a potential homebuyer or investor, make sure to stay tuned for updates.

Exciting times are on the horizon, so your eyes peeled for more exciting developments!

ALSO READ: Which are the most profitable HDB BTO flats in Singapore?

This article was first published in 99.co.

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