CBD to keep buzzing after office hours

CBD to keep buzzing after office hours

A transformation is under way in the heart of the Central Business District (CBD).
The area's traditional corporate profile is taking on a new after-office hours vibrancy as many more residents move into the district.

More than 4,600 homes are expected to be completed in the CBD by the end of 2015.

Many of these homes will be in Robinson Road, Shenton Way and the nearby Tanjong Pagar.

By the time these homes are ready, the CBD's once sleepy population will have sky-rocketed 14-fold since 2007.

And already, various upcoming projects there, though pricey, have attracted healthy interest.

Far East Organization's The Clift, for instance, has sold 250 units out of 312 available. The smallest unit there costs nearly $2 million.

In Tanjong Pagar, the same developer's Altez has sold 213 condominium units out of 280 available.

Altez, a 62-storey condo at 16 Enggor Street, is being sold at an average of $2,206 psf.

Some distance away, at 70 Shenton Way, mixed-use Eon Shenton will be built with 132 apartments. About 95 units have been sold.

Other upcoming projects like the mixed-use Oxley Tower and Skysuites @ Anson, will also be thrown into the mix.

Yet to be launched, a GuocoLand development directly above Tanjong Pagar MRT station will be completed by 2016 - the first in the CBD to have homes, offices, shops and a hotel.

These projects join several in the area that were completed earlier, such as Marina Bay Residences, Icon and Lumiere.

The added residential buzz means the CBD could bring in the crowds even after hours, property experts said - in line with the Government's plan for the CBD to be a place to work, live and play.

Downtown living could prove to be popular, especially among the younger professionals.

In other mature cities like New York, downtown living is part of the city fabric. In fact, in some cities in the US, the silver population will move back into the city because of the amenities.

Source: The Straits Times – 19 May 2012