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Boutique developer K16 Development will preview its conservation-friendly, mixed-use project Atlassia located at Joo Chiat Place on May 14. The project consists of of nine shophouses located at the intersection of 30 and 46 Joo Chiat Place, which the developer purchased in a block for $31.8 million in the year. Behind the shophouses, a developer plans to build a five-storey addition.
Formwerkz Architects has been appointed as the designer for the project. The two-storey shophouses that were built in 1935 in an Art Deco style will be preserved. The first floor of the shophouses have been designated to commercial use. six of the units will be transformed into shops, with two transformed to F&B outlets. The dimensions of these units vary from 753 square feet.
One floor in the Corner Shophouse on Joo Chiat Place will be transformed into the central entrance hall which will lead to the apartments below and the brand new block of housing units to the rear. There are 31 residential units within the development.
The loft-style apartments on the second floor of the shophouses that are being preserved comes with ceilings of up as 4.5m with a mezzanine level. Nine of these loft-style units are two-bedroom units that include the option of a study. They range from 1,087 to 1,173 square feet. Three-bedroom units that measure 1,151 and 1,141 comprise two additional units. Nineteenth unit the largest , at 2,690 sq feet, comes with five bedrooms as well as an office. Because it’s an apartment in a corner it also has an exclusive courtyard and balcony.
The five-story rear block will contain 22 units. There is one single bedroom apartment measuring 509 square feet. Thirteen units are two-bedrooms, which range between 584 and 677 sq feet. There’s a 3-bedroom plus study measuring 1,153 square feet as well as a three-bedroom dual-key apartment with 980 square feet. Additionally, on the highest floor are six penthouses all with four bedrooms and range in size of 1,108 sq feet to 1,302 square feet. The typical apartments come with a 3.2m ceilings and the penthouses boast an average ceiling that is 4.5m.
“Atlassia” is the name that was coined “Atlassia” was created by mixing “Atlas” as well as “Asia” according to Grace Yang, project director of K16 Development. This isn’t the first development located in the East Coast neighbourhood by the developer. In the year 2018 K16 bought the previously-owned Pomex Court in a block for $37.6 million, and then redeveloped it into the freehold, 34-unit residential development Olloi.
The development located at Lorong 101 Changi was fully sold at an average of $1,690 per sq ft in accordance with caveats lodged in conjunction with URA Realis. “In the last four years that we have been working on Olloi Joo Chiat has changed a lot,” says Yang. Joo Chiat area has changed quite a bit,” says Yang. “It’s becoming a hipster area that has numerous new F&B restaurants.” A brand new Spanish restaurant Asador recently opened in Joo Chiat Place from Atlassia and further down Joo Chiat Road is where the Communal Place bistro and Braseiro Restaurant as well as Braseiro Restaurant, which are French french steak and fry restaurant are situated. Olloi might be the first K16 Development apartment development, but it’s Yang’s first venture as an property developer. Yang had previously constructed a 70,820 square foot freehold site located in King Albert Park into four Good Class Bungalows in 2013.
Prior to that, she began the career of an engineer, and was a property manager for K16 Services, which manages B1 industrial buildings.
As per Yang, K16 Development is comprised of a group comprised of Singaporean investors. “They are all very knowledgeable and some may decide to purchase units in our developments,” she says. Since she is from the eastern part of Singapore she is betting on the neighborhood’s familiarity. “That’s the reason we managed to purchase developments in the East in the previous collective sale, and more lately,” she adds, in reference to her purchase of sites in the area of Olloi as well as Atlassia.
The area at Atlassia in Joo Chiat Place in District 15 is “centrally situated” and is close to Singapore’s CBD, Marina Bay, Singapore Sports Hub and Changi Airport Yang notes. Yang.
“Atlassia is situated within an area rich in tradition and history,” says Lee Sze Teck, Huttons Asia senior director of research. “Buyers will be purchasing an era of history when Atlassia is a mixed-use development featuring homes for residents as well as conservancy shophouses.” As per Lee the project is “probably the only development with conservation shophouses that will be built in 2022”.
Yang believes that Atlassia as appealing to residents and foreigners. The homes are designed to appeal to both old and young. “Young Singaporeans will appreciate the historical features of this project to East Singapore,” the architect says. “That’s why we constructed a majority of two-bedroom homes. We also think that the apartments are attracted by empty nesters looking to move down to smaller apartments.”
The apartments at Atlassia will come with kitchen appliances from Smeg, Toto bathroom fittings and water closets, built-in wardrobes and storage space, as along with ceiling lights. The buyers will be able to move into their new home without the need for the necessary renovations, says Yang. The project is scheduled to be completed by 2025.
Atlassia will have an average of $2,000 per pound. “I’m extremely optimistic on eastern Asia,”” Yang says. Yang.
