The Urban Redevelopment Authority unveiled its strategies to transform the Jurong Lake District into a second CBD. It plans to create 100,000 new jobs in maritime, infrastructure, and technology, as well as inject 20,000 new homes, according to a statement on August 25.
The agency says it will pay close attention to place making. Sixteen hectares of new parks and open spaces will be added, including a central park above the HSR terminus and the former Jurong Town Hall. A green connector loop to be used for sports and recreation will encircle the business area. Meanwhile, a new water channel will increase the total length of waterfront space to 17km and create more waterfront areas for recreation, retail and F&B.
Christine Li, director of research at Cushman & Wakefield says, “Given the standard space provision of 90 sf per worker, this would translate into a requirement of 9 million sf of new office space and result in a five times increase in office stock in the area.” It is unclear if the URA will reduce future supply of land parcels in Marina Bay to avoid oversupply, she adds.
Tay Huey Ying, head of research and consultancy at JLL, notes that most businesses still need a financial push to locate outside the main CBD. “Drawing from Hong Kong’s experience, a rental gap of at least 60% would be necessary to motivate businesses to relocate”, she says.
To cater to the rapidly changing economy, the bulk of the mixed-use business area will be zoned ‘white’ to allow flexibility in land use. Developers can incorporate non-traditional uses like schools, community facilities, hotels, MICE facilities, attractions, museums and event spaces for companies and universities to meet and showcase their prototypes, to accommodate the needs of tenants and the market.
Li warns that “this laissez-faire approach may backfire as developers who opt to fully fulfil their developments with the traditional components will be able to outbid those developers who incorporate non-traditional spaces”. She suggests that the URA tender the sites using a two-envelope system, or imposing a requirement that a percentage of the white space be used for non-traditional uses.
Additionally, the agency will adopt a regular grid structure for land parcels. This will allow land parcels to be easily amalgamated or subdivided to meet evolving business needs.
The URA also envisages the Jurong Lake District to be "car-lite". It is targeting to increase the public transport mode share to more than 80%, compared to the national average of 66%. It is looking into new concepts for car parking, such as fringe hub parking, and setting aside more road space for public transport, pedestrians, cyclists, and personal mobility devices.
Members of the public are encouraged to visit the exhibition at URA Centre and Westgate, or at https://www.jld.sg/ , to give their feedback.