The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
TAP’s Lim claims the site at Phoenix Park shows “a possibility to redefine what community living means in Singapore”.
Located at 300 to 320 Tanglin Roadway, the 610,487 sq ft site is equivalent in size to 8 soccer areas. It makes up 33 conserved colonial-era black-and-white structures spread across the site, with surface area car and motorcycle parking area.
Built in 1949, Phoenix Park was proclaimed a historic site by the National Heritage Board in 2012. The spot in the past housed the British Far East Command and the British High Commission before functioning as the Ministry of Home Affairs headquarters from 1977 to 2001.
The project marks the JV’s third alliance– having actually worked on Singapore’s first intergenerational co-living residence at the former Henderson Primary School, branded Commune @ Henderson, in addition to 3 sites under the Ministry of Health And Wellness Holdings that were switched into purpose-built lodging for international health care experts.
The tenancy, granted by the Singapore Land Authority (SLA), has a preliminary five-year term with a choice to renew for a more 4 years. TS Group is a home-grown developer and operator of dorm rooms, boarding residences and massive neighborhood spaces.
TS Home, a subsidiary of TS Group, secured the master occupancy for Phoenix Park with the top of 7 proposals, offering a monthly rental fee of $404,888.
The Arcady @ Boon Keng condo price
The addition of Phoenix Park are going to expand TAP’s in service and pipeline accounts, which in turn presently comprises greater than 3,400 keys across 100 places and nearly 1,500 keys under development. The group is targeting a portfolio of 10,000 keys by 2030.
The property will integrate serviced houses and undergraduate lodging with health amenities, sporting activities features, dining channels and neighborhood rooms, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are expected to take control of the spot in October, with the first phase planned to open in 1Q2027, states Eugene Lim, CEO of TAP.
SGX-listed co-living provider The Assembly Place (TAP) has actually created a mutual project with TS Home to transform the historical Phoenix Park site right into Singapore’s largest co-living destination, with greater than 700 keys. TAP holds a 39% claim in the joint venture.
Oh Boon Shi, supervisor and COO of TS Home, believes the changed Phoenix Park site will certainly also draw in local and international visitors pursuing unique way of life and wellness experiences, as the centers will be available to the public.
