Pearl Bank Apartments landmark will be replaced by a beacon which will comprise of two towers. The towers will be linked by sky bridges. According to Christopher Lee, the site’s architect, the new design will be “clear and simple form”. It will house approximately 774 residential apartments that are almost triple the original units (288). The units will include penthouses and studio apartments and will range from 430 square feet to 2800 square feet. The prime site has a land area of 82,376 sq ft, with a ratio of 7.45. Pearl Bank Design consist of 2 horse shoe shaped towers to mimic the design of the former Pearl Bank Apartments
The condominium will be ready by year 2023 and will go by the name One Pearl Bank. The 39-storey building is a 99-year leasehold property and is going to become the tallest building in Outram Chinatown District. It will stand at 178m, surpassing Pinnacle @ Duxton, the tallest building in Outram which stands at 156m. What makes One Pearl Bank a huge spectacle is that it will be built on top of Pearl’s Hills.
CapitaLand Limited, one of Asia’s largest developers, acquired the property for $728 million. The company is present in more than 150 cities in over 30 countries worldwide. However, China and Singapore are the company’s core markets. Before the acquisition, pleas to save Pearl Bank came from architectural and heritage fraternities, who described the structure as a visual signpost and irreplaceable. The structure has a unique C-shape that represents the community. Moreover, its corridor is exposed for people to interact with one another. In a statement to newsrooms, CapitaLand said a multitude of factors such as building safety requirements, market conditions and existing housing policies made conservation unfeasible. The slender facades of the new structure hug the perimeter and provide enough space for residents to breathe and look out through the towers.
Subject to conditions precedent, the developer will develop the structure to include a host of shared facilities to celebrate the area’s heritage as well as to foster community spirit. Since the new condo is located in the central region, residents will take approximately 8 minutes to drive to the Central Business District and 6 minutes to Orchard Shopping District. Additionally, there are more than 10 shopping malls near One Pearl Bank.
Dr. Lee, co-founder Serie Architects, believes the design gives a sense of freshness and progress to Singapore. He also said the upcoming structure will look good from any angle. The structure will transform into a beacon as it begins to glow. Despite the new design receiving mixed reaction from public opinion, Dr. Lee was confident in it. He called it nuanced and intelligent.