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One-North to Add More High Rise Housing
One-North to Add More High Rise Housing : Additional high-rise residential buildings are planned for construction in one-north in order to cater to the increasing need for housing in the business park. On May 3, the Urban Redevelopment Authority (URA) unveiled proposed revisions to its URA master plan, aiming to designate various portions of land located at Media Circle and Portsdown Road for the construction of residential properties.
Three land parcels were designated as residential areas with ground-floor shops. Two of the parcels had plot ratios of 3.7 and 4.3 respectively, while the third parcel was awaiting detailed planning. Additionally, there was a fourth parcel designated as residential, pending detailed planning. The plot ratio plays a crucial role in determining the level of development allowed.
The One-North area is very popular in recent condo launches. As an example, the latest The Hill @ One North has been quite a success, considering the slower new launches market. The demand in this One-North area may have been influenced by the area’s close proximity to educational institutions like the National University of Singapore and Singapore Polytechnic, as well as the companies in Science Park.
Hence owners for self stay or owners buying for investment and seeking rental yield, will find these new launches at One-North very attractive.
One-North to Add More High Rise Housing : The Changes
The proposed URA amendments encompassed a portion of land previously occupied by the Temasek Club, which served as a social club for officers and families within the Singapore Armed Forces.
The Urban Redevelopment Authority (URA) stated that, in addition to meeting housing demands in the region, the proposed high-density residential projects will transform the area into a dynamic mixed-use district. It is estimated that the changes will add about more than 2,000 new private and public homes.
Currently, there are actually no public housing options available in the one-north area. That means there have not been any HDB launches in the One-North area. By these changes, there could be a possibility of a new HDB BTO launch at One-North. Introducing new flats in this location would bring greater variety to the housing options in the area.
However, the residential plots with first-storey shops are most likely intended for private homes. The residents in the area will have access to additional amenities and dining options through the commercial shops located on the first floor of the developments. These shops are not within a convenient walking distance from Buona Vista MRT station or the Star Vista shopping mall. These are closer to new condo launches such as Blossoms by the Park.
Nearly twenty years ago, the URA envisioned Media Circle as a dynamic business park catering to the media technology industry. While a few media companies have since set up offices in the area, much of the designated business park land remains unused. As a result, the area is pretty dead at night.
Recognizing the desire for shorter commutes, URA have begun to introduce more residential and commercial projects in the vicinity. Workers have expressed concerns about the lack of amenities, such as retail and dining options, and the area’s considerable distance from the nearest MRT station and residential neighborhoods. Consequently, many employees in Media Circle rely on somewhat inconvenient public transportation options.
These new potential launches will help make work-life balance a good one for people who work in these companies at Media Circle and yet be able to go home easier too. It will add to the night life of the area, making it more desirable as a working and living areas.
Existing GLS Launches in the Area
Qingjian Realty and Forsea Residence won the first government land sale (GLS) plot in Media Circle in February 2024. The joint venture secured the plot for $395.3 million, which translates to $1,191 per square foot per plot ratio. The proposed developments will supplement these existing GLS plots.
The second parcel, located next to Infinite Studios, could yield about 515 long-stay serviced apartments and has not been launched for tender.
Contact Us for more information on new launches in One North area.
