The Assembly Place, TS Home to repurpose Phoenix Park into Singapore’s largest co-living destination
The project is going to integrate serviced homes and undergraduate accommodation with health centers, sporting activities facilities, eating avenues and community rooms, creating a live-work-wellness ecosystem throughout the heritage precinct. The JV partners are expected to take control of the site in October, with the initial stage planned to open in 1Q2027, claims Eugene Lim, Chief Executive Officer of TAP.
Oh Boon Shi, director and COO of TS Home, believes the transformed Phoenix Park site will certainly also bring in community and overseas prospects seeking unique way of living and health events, as the facilities are going to be accessible to the public.
TS Home, a subsidiary of TS Group, protected the master tenancy for Phoenix Park with the top of seven offers, offering an once a month rent of $404,888.
The occupancy, granted by the Singapore Land Authority (SLA), has a preliminary five-year term with a choice to renew for an additional 4 years. TS Group is a home-grown property developer and driver of dorm rooms, boarding residences and large neighborhood places.
The enhancement of Phoenix Park are going to broaden TAP’s operational and pipeline accounts, which in turn presently comprises more than 3,400 keys throughout 100 areas and almost 1,500 keys under development. The group is focus on an account of 10,000 keys by 2030.
TAP’s Lim claims the site at Phoenix Park delivers “a possibility to redefine what community living suggests in Singapore”.
SGX-listed co-living operator The Assembly Place (TAP) has created a joint venture with TS Home to transform the historic Phoenix Park site right into Singapore’s biggest co-living destination, with more than 700 keys. TAP holds a 39% risk in the shared venture.
The project marks the JV’s 3rd partnership– having actually worked on Singapore’s very first intergenerational co-living home at the previous Henderson Primary School, branded Commune @ Henderson, along with 3 websites under the Ministry of Health Holdings that were switched into purpose-built lodging for foreign health care professionals.
Located at 300 to 320 Tanglin Roadway, the 610,487 sq ft site is equal in dimension to 8 football fields. It makes up 33 conserved colonial-era black-and-white buildings dispersed throughout the place, with surface area car and motorcycle car park.
Built in 1949, Phoenix Park was proclaimed a historical spot by the National Heritage Board in 2012. The area in the past housed the British Far East Command and the British High Commission prior to working as the Ministry of Home Affairs head office from 1977 to 2001.
