The recent decision to rezone the Tan Boon Liat Building from purely commercial to a mixed-use designation aligns with growing urban development trends in the Outram district.
This change allows for an increase in the site’s maximum allowable gross floor area by up to 50%, thereby accommodating residential units amidst commercial spaces.
The strategic location near key transport facilities and essential services enhances its attractiveness to developers and future residents, signaling a transformative phase for the neighborhood’s landscape.
What might this shift mean for current commercial tenants and potential homeowners?
Reasons Behind the Rezoning of Tan Boon Liat Building
The rezoning of Tan Boon Liat Building marks a strategic move to optimize land use within the bustling Outram district, reflecting an increasing demand for both residential and mixed-use spaces. According to the Urban Redevelopment Authority (URA), the plan includes creating a vibrant environment that combines living and commercial zones to foster community interaction. The introduction of a potential 50% increase in gross floor area (GFA) facilitates larger scale developments, maximizing site potential. Additionally, the rezoning allows for the construction of structures up to 180 meters tall, aligning with Singapore’s objectives for high-density urban development. This decision is influenced by the site’s freehold status and its proximity to key amenities and transport links, enhancing its appeal to developers. For those interested in properties in this upmarket area, the River Green project(River-Valley) by Wing Tai Holdings might also appeal due to its luxurious amenities and prime location.
Neighborhood and Nearby Amenities
Following the rezoning of Tan Boon Liat Building, the neighborhood’s appeal is greatly enhanced by its wealth of nearby amenities, which play a pivotal role in shaping the area’s community life. Just a 12-minute walk away, Tiong Bahru Plaza offers extensive shopping, dining, and entertainment options. Additionally, the Havelock MRT station is conveniently located a mere 5-minute walk from the building, facilitating easy access to broader Singapore. Families appreciate the close proximity to reputable primary schools such as Zhangde Primary, Alexandra Primary, and River Valley Primary. Moreover, Tiong Bahru Park and a variety of local cafés and restaurants enrich the living experience, solidifying the neighborhood as a desirable location in the Outram district. Similar to the strategic placement of the Tan Boon Liat Building, River Green’s proximity to the CBD enhances its attractiveness both for living and investment purposes.
The Future Landscape of Outram District
With the rezoning of Tan Boon Liat Building, Outram district stands on the brink of a transformative phase, promising a seamless blend of residential and commercial spaces. This strategic shift is poised to leverage the potential for a 50% increase in gross floor area, enabling the development of structures up to 180 meters tall. Such growth aligns with Singapore’s vision for high-density urban planning. The inclusion of the nearby Havelock MRT station and the Thomson-East Coast Line enhances Outram’s connectivity, making it more accessible. Additionally, local amenities like Tiong Bahru Plaza and surrounding parks will likely draw both residents and businesses, fostering a vibrant, mixed-use community that underscores the district’s dynamic evolution in the coming years. Building on this growth, there is investment potential with possibilities for both individual investors and larger companies to partake in this emerging locale, echoing the expansive opportunities highlighted through projects like River Green.
Impact and Opportunities for Potential Investors and Residents
As the Outram district undergoes a significant transformation with the rezoning of the Tan Boon Liat Building, numerous opportunities arise for both investors and prospective residents. The anticipated 50% increase in gross floor area presents a lucrative chance for development in residential and mixed-use spaces, making this a prime location for investment. The integration of commercial amenities with residential living appeals greatly to those seeking convenience alongside urban lifestyle options. Additionally, the close proximity to key transport links like the Thomson-East Coast Line and essential services near Tiong Bahru Plaza and Havelock MRT station enhances its desirability. Investors may also see a considerable appreciation in property values, driven by the district’s continuous evolution and modernization. Prospective buyers and investors interested in exploring similar opportunities may benefit from examining the virtual tours and galleries provided by River Green, which present comprehensive insights into current market offerings and amenities.
New Condo Launch: RIVER GREEN
We’re excited to introduce the recently launched River Green, a gem located in the heart of Singapore’s sought-after Orchard-River Valley district. River Green Condo embodies the perfect blend of urban living and serene natural surroundings. Situated at 351 River Valley Road, this new launch offers 380 units designed for modern lifestyles, featuring a modern architectural design with a variety of unit types. River Green‘s prime location near Great World City and Orchard Road provides residents with excellent access to shopping, dining, and entertainment options. Integrated with the Great World MRT Station, residents can enjoy unparalleled connectivity and convenience.
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