New ‘vertical village’

il-capitaland

Called The Interlace, the condo is designed by world-renowed architect Ole Scheeren. He is from the firm Office for Metropolitan Architecture, whose other partners include the famous Rem Koolhaas.

The project, on an elevated 81,000-sq m site, has 1,040 apartment units in interlocking blocks resembling a ‘vertical village’, said Mr Scheeren at Friday’s design presentation.

He was giving a detailed introduction on the design to a room full of media, analysts, bankers and consultants at Raffles Hotel. The project, he said, breaks away from the standard condo designs of isolated, vertical towers.

Through vertical stacking, each home will have views, he said.

CapitaLand CEO Liew Mun Leong said the pricing will be kept ‘affordable’ as they want to make the world class homes accessible. The project’s construction costs will be around $250 to $270 psf.

CapitaLand bought the Gillman Heights site in a collective sale back in February 2007 at $548 million, or $363 per sq ft per plot ratio. The sale went to the High Court and then the Court of Appeal as minority owners tried to overturn the sale. But the owners lost their appeal and the sale was completed in May.

SOURCE: Straits Times

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