The Urban Redevelopment Authority (URA) is proposing the rezoning of one-north land parcel as residentiall located between Media Circle and one-north Avenue. Currently designated for business-park use, the proposal suggests transforming it into a high-density residential development. Additionally, five other sites originally earmarked for residential purposes will see an intensification of land use.
Such rezoning will free up more land for residential projects that has seen good demand in the One North area such as the Blossoms by The Park.
Rezoning of one-north land parcel as residential announced in Master Plan
The URA mentioned on Friday, October 6th, that the residential development at Media Circle aims to address the demand for housing in the one-north area while enhancing the district as a vibrant, mixed-use business park. The timeliness of providing more residential options in one-north, especially given the diverse range of companies operating there. With private housing units like One Rochester and One-North Residences already present, this area is poised for more growth.
With the one-north business park in Singapore experiencing high rental demand and limited housing options, exciting plans have been unveiled for a high-rise housing development in the area.
The Urban Redevelopment Authority (URA) is proposing to rezone a plot in Media Circle, potentially raising the plot ratio and accommodating approximately 300 homes.
In June 2023, URA announced a GLS sale of a piece of land in Media Circle too.
These developments aim to meet the increasing demand and attract local and foreign investors to this thriving business hub.
Proposed High-Rise Housing Development in Media Circle
The proposed high-rise housing development in Media Circle is part of the Urban Redevelopment Authority’s plan to meet the housing demand in the one-north area. This development could be either a private or public project, depending on the decision made by the authorities.
The housing demand in one-north is high due to limited housing sites and the increasing number of people working in the area, particularly in the information and communications technology sector and biomedical firms. Property analysts estimate that the Media Circle plot could yield approximately 250 to 310 units.
The development of high-rise housing in this area would not only cater to the housing needs of the residents but also attract local and foreign investors. Furthermore, the proximity to amenities like malls and community areas would be desirable for potential residents.
Rezoning and Increased Plot Ratio in One-North
The proposed rezoning and increased plot ratio in One-North aims to accommodate the demand for high-rise housing and maximize land usage in the area. With limited housing options in One-North and high rental demand, the development of high-rise housing is seen as a timely solution.
The increased plot ratio will allow for more homes to be built, potentially attracting both local and foreign investors. The proximity to amenities such as malls and community areas is also desirable for potential residents.
Additionally, with Singapore’s expansion into the healthcare and biomedical sector, more people are expected to work in One-North, making the provision of residential units in the area even more necessary.
The rezoning and increased plot ratio in One-North present an opportunity to meet the demand for high-rise housing and contribute to the growth and development of the area.
High-Density Residential Development in Tengah
Developing high-density residential housing in Tengah will address the increasing demand for housing in the area.
With the proposed high-rise development in Tengah, there is potential for a significant number of flats or private apartments to be built, potentially ranging from 1,950 to 2,000 flats or 2,850 to 2,900 private apartments.
This development is likely to be private, considering the number of Build-To-Order (BTO) projects in the Tengah area. However, HDB flats on the Tengah plot could fall under the new Plus category, which comes with stricter resale conditions.
The potential demand for residential units in Tengah is driven by housing affordability, as well as the desire for proximity to amenities like malls and community areas.
As such, the high-density residential development in Tengah is expected to attract both local and foreign investors.
Potential Benefits of Residential Development in One-North
With Singapore’s expansion into the healthcare and biomedical sector, more people are expected to work in and commute to one-north, thereby increasing the need for residential units in the area.
The proposed residential development in one-north presents several potential benefits for the healthcare and biomedical sectors. Firstly, having housing options within close proximity to these sectors can greatly enhance the work-life balance for professionals in these industries.
It can also attract local and foreign investors who are interested in investing in properties that cater to the needs of these sectors. Additionally, there is potential interest from HDB upgraders and tenants in the information and communications technology sector and biomedical firms, further driving the demand for residential units in one-north.
The development of high-rise housing in one-north will not only meet the growing housing demand but also contribute to the overall growth and development of the healthcare and biomedical sectors.
Residential Development in Bayshore Precinct
Proposed residential development in Bayshore precinct envisions the creation of a vibrant and modern living environment. The development aims to capitalize on the potential of the plot ratio being raised, allowing for the construction of 800 to 900 flats or 1,200 private residential units.
One of the key advantages of this development is the unblocked views that some units will have of East Coast Park and the sea, providing residents with a picturesque and serene living experience.
Additionally, the future Bayshore MRT station will provide convenient transportation connectivity for the residents of this development, further enhancing its appeal.
More details of the plans for the site will be made public in the future, giving potential buyers and investors a clearer understanding of the exciting opportunities that the Bayshore precinct has to offer.
Future Plans and Details for High-Rise Housing in One-North
A significant number of high-rise housing units, ranging from approximately 250 to 310 units, are projected to be developed in one-north to meet the growing demand for residential options in the area. Currently, there is a high rental demand in one-north due to limited housing sites, with rentals consistently higher than in the Dover area.
Property analysts estimate that the proposed development in Media Circle could yield around 250 to 310 units, attracting potential interest from HDB upgraders and tenants in the information and communications technology sector and biomedical firms. With Singapore’s expansion into the healthcare and biomedical sector, providing residential units in one-north will be timely.
There is also a hope to see a public housing development in one-north, which could attract both local and foreign investors. Proximity to amenities like malls and community areas is also desired by potential residents.
Conclusion
In conclusion, the proposed high-rise housing development in one-north holds great potential in meeting the increasing demand for housing in the area.
With the rezoning of the Media Circle plot and the potential for increased plot ratio, the development aims to cater to professionals working in the information and communications technology and biomedical sectors.
Additionally, the high-density residential development in Tengah offers a solution to the limited housing options in the one-north area.
Overall, these plans have the potential to create a thriving and vibrant community in one-north.
In summary, these proposed changes in land use and rezoning by the URA aim to meet the evolving housing needs of Singaporeans while creating vibrant, mixed-use environments in various districts.
