New Residential Developments Set to Transform Tanjong Rhu
Exciting times are ahead for the Tanjong Rhu area, as the Urban Redevelopment Authority (URA) has given the green light for the construction of new high-rise housing developments on three prime plots of land. These developments, situated on the city fringe, have the potential to yield more than 5,000 new homes. Here's what you need to know:
1. Rejuvenating a Dormant Area
It has been over a decade since a new private residential development was launched in this area, making this move a significant one. The three plots, spanning a considerable area, were rezoned and had their plot ratios increased in a recent amendment to the URA's masterplan. This amendment opens up exciting opportunities for high-density residential projects.
2. Convenient and Central Location
Situated across from the Singapore Sports Hub and within a kilometer of the Tanjong Rhu and Katong Park MRT stations, these new homes will enjoy excellent connectivity. Moreover, they will be within walking distance of Dunman High School, Katong Community Centre, and a park connector leading to Marina Bay.
3. A Mix of Public and Private Housing
While Tanjong Rhu is primarily a private residential enclave, there's potential for public housing on these plots. Given their location near the Greater Southern Waterfront and MRT stations, any public flats built here might come under the Prime Location Public Housing (PLH) model. This model aims to make prime area flats accessible to a broader range of homebuyers.
4. Projected Housing Numbers
The three plots offer significant potential for housing. The estimated numbers vary, but we could see anywhere from 5,000 to 6,500 new homes, comprising both public and private housing, across these plots.
5. Strong Demand Expected
The attractive location and the long period of inactivity on these plots suggest that the upcoming developments will draw substantial interest from both owner-occupiers and investors. Additionally, the Tanjong Rhu area has historically seen strong rental demand, adding to the appeal.
6. The Importance of Sea and River Views
It's rare to find such sizable parcels of land on the city fringe that offer the potential for sea or river views. This unique feature is expected to be a significant draw for future residents.
In conclusion, the transformation of Tanjong Rhu promises to breathe new life into an area that has been relatively quiet for some time. The mix of public and private housing, along with the central location and potential for scenic views, makes this a development to watch closely.
Key Takeaways:
- Three plots in Tanjong Rhu are earmarked for high-rise housing development, potentially yielding over 5,000 new homes.
- The amendment to the masterplan allows for increased plot ratios and re-parcelling, opening up opportunities for new private or public projects.
- These plots are strategically located, offering proximity to the Greater Southern Waterfront and upcoming MRT stations, making them highly desirable for potential residents.
- The plots have been largely vacant for an extended period, presenting a rare opportunity for development on the city fringe.
- Strong rental demand in Tanjong Rhu is expected to drive significant interest from both owner-occupiers and investors.
If you're interested in staying updated on these developments or exploring property opportunities in the Tanjong Rhu area, don't hesitate to reach out to us. Our team of real estate experts is here to assist you in making informed decisions and finding the perfect property for your needs.