URA Draft Master Plan 2019: Higher plot ratios in CBD for converting offices to hotels, residences
THE Urban Redevelopment Authority (URA) will offer an increase in gross plot ratio for areas within Singapore's central business district (CBD) to encourage the conversion of existing office developments to hotel and residential uses, Minister for National Develoment Lawrence Wong said on Wednesday.
That change will fall under a new CBD Incentive Scheme that is part of a broader plan to boost the live-in population within the city's central area with a variety of homes and amenities in places such as downtown, Marina South and Rochor to enable more people to live near workplaces and amenities.
The CBD Incentive Scheme will apply to the Anson Road, Cecil Street, Shenton Way, Robinson Road and Tanjong Pagar areas.
As part of its Draft Master Plan 2019, URA also envisages opportunities to inject unique, short-term uses for vacant state properties and land to bring about greater vibrancy and create public spaces for more to enjoy.
"For the CBD, the vision is to continue to transform it into a well-connected and vibrant mixed-use district offering a dynamic and innovative business environment," URA said on Wednesday morning.
"Agencies are also studying the possibility of transforming Robinson Road into a transit-priority corridor for public transport and active mobility." For instance, more space can be given to buses, cycling paths and pedestrian walkways.
Furthermore, active and convenient commuting within the city will become a reality by 2021, with the addition of more than five kilometres of cycling paths to the existing 22-km network in the Central Area. "Building owners are being encouraged to provide facilities such as bicycle parking, showers and lockers to make travelling to work - via active mobility - more conducive," URA added.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents
Australia home prices sustain growth in April, CoreLogic says