New HDB estate will 'rejuvenate' Mount Pleasant: OrangeTee

The new development will be launched within the next five years.

Around 5,000 new Housing and Development Board (HDB) flats will be built on the Old Police Academy site in the Mount Pleasant area, the first build-to-order (BTO) project to be launched within the next five years.

OrangeTee senior vice president for research and analytics Christine Sun said the development is unique as it fuses the convenience of city fringe living, greenery, culture and heritage.

"The place is well-located, at the centre of Singapore, making it very convenient for residents to travel to many parts of the island. Residents can access the major expressways via the Pan Island Expressway, or travel to the Northern and Eastern regions of Singapore via the Thomson East Coast Line. Executives who work in the CBD can travel to Shenton Way via the Thomson East Coast Line. Residents can similarly visit Orchard Road or Great World City for their shopping needs in a matter of minutes via the MRT line," Sun added.

According to OrangeTee, prices may be close to the BTO launch price for Toa Payoh or Bidadari. From the February launch at Bidadari, prices of five-room flats start from $611,000 while four-room flats start from around $460,000. For the February 2020 launch in Toa Payoh, four-room flats start from about $400,000, and prices went up to $666,000.

Four existing buildings that were part of the Old Police Academy, along with the parade square, will be retained and adapted into community spaces to serve future residents.