Introduction
City Developments Limited (CDL) is set to unveil the highly anticipated Union Square Residences, a luxurious mixed-use development located in the heart of Singapore. This project promises to redefine the concept of luxury living, offering residents unparalleled views, state-of-the-art amenities, and a unique blend of residential, commercial, and hospitality components. In this blog post, we will delve into the details of Union Square Residences, including its features, pricing, and what makes it a standout in Singapore’s real estate market.
Overview of Union Square Residences
Union Square Residences is part of the larger Union Square mixed-use development, which spans across three combined sites on Havelock Road in prime District 1. The project is designed by the award-winning architectural firm Aedas in collaboration with renowned local architectural firm ADDP for the residential component. This 40-storey residential tower will house 366 luxury apartments, ranging from one to four bedrooms, with unit sizes varying from 463 sq ft to 1,518 sq ft. Additionally, there will be two Sky Suites and a penthouse, offering residents the ultimate in luxury living.
Key Features of Union Square Residences
- Luxurious Units: The apartments at Union Square Residences are designed to provide residents with the ultimate in comfort and luxury. Each unit features high-quality finishes, spacious living areas, and expansive windows that offer breathtaking views of the Singapore River, Marina Bay, Pearl’s Hill, and Chinatown.
- Amenities: The condominium offers a range of recreational facilities, including two swimming pools, two resident clubhouses, a sky gym, and seven recreational pods. Residents can enjoy a variety of activities and socialize with fellow residents in these well-appointed facilities.
- Green Mark Certification: Union Square Residences is set to achieve Green Mark Platinum Super Low Energy certification for its residential and commercial components. This certification is a testament to CDL’s commitment to sustainability and environmental responsibility.
Pricing and Availability
The prices for Union Square Residences start from $1.38 million for a one-bedroom unit, with prices increasing to $1.998 million for a two-bedroom unit and $2.82 million for a three-bedroom unit. The prices are as follows:
- One-Bedroom Unit: $1.38 million ($2,981 psf)
- Two-Bedroom Unit: $1.998 million ($2,854 psf)
- Three-Bedroom Unit: $2.82 million ($2,848 psf)
Mixed-Use Development
Union Square is more than just a residential project; it is a comprehensive mixed-use development designed to enhance the lifestyle of its residents. The project includes a 20-storey, freehold Grade-A office tower called Union Square Central, retail and F&B spaces, a co-living component with a hotel license, and a three-storey block dedicated to co-living and commercial spaces.
Components of Union Square
- Union Square Central: A 20-storey Grade-A office tower that offers premium office spaces with modern amenities.
- Retail and F&B Spaces: A variety of retail and F&B options are available within the development, catering to the diverse needs of residents and office workers.
- Co-Living Component: A co-living component with a hotel license provides residents with the flexibility to choose between private apartments and shared living spaces.
- Commercial Spaces: A three-storey block dedicated to co-living and commercial spaces offers additional opportunities for businesses and entrepreneurs.
Redevelopment Project
The redevelopment of Union Square is a significant enhancement initiative undertaken by CDL in the Central Area. The project sits on three combined sites, with a total land area of 148,000 sq ft. The area was previously occupied by Central Mall, a seven-storey office tower, Central Mall’s cluster of conservation shophouses, and the mixed residential and commercial building Central Square.
Acquisition and Redevelopment
CDL acquired Central Square for $315 million in December 2021. The acquisition was part of CDL’s strategy to redevelop the three sites into a large-scale mixed-use development under the URA Strategic Development Incentive (SDI) scheme. The SDI scheme was introduced by the government in 2019 to encourage the redevelopment of older buildings in strategic areas, such as the Singapore River Planning Area.
Transformational Impact
The redevelopment of Union Square is expected to have a strong transformational impact on the surrounding environment. The project will realize a 67% uplift in the total allowable gross floor area (GFA) to about 735,500 sq ft under the SDI scheme. The luxury residential component will take up 310,190 sq ft (42%), the Grade-A office spaces will take up 300,910 sq ft, while the retail and co-living spaces will take up 75,540 sq ft and 48,860 sq ft, respectively.
Conclusion
Union Square Residences is a landmark project that promises to redefine luxury living in Singapore. With its stunning views, state-of-the-art amenities, and commitment to sustainability, this project is set to attract discerning buyers looking for a premium lifestyle experience. The mixed-use development offers a unique blend of residential, commercial, and hospitality components, making it an attractive option for both residents and businesses. With prices starting from $1.38 million, Union Square Residences is an opportunity not to be missed for those seeking the ultimate in luxury living in Singapore.
