Progress of the sports hub is going well with reports indicating that it will be complete early 2014.
A few things come to mind with regards to the completion of the hub. Major sporting events and NDPs will be held there, along with an increased number of concerts at the improved Singapore Indoor Stadium. All these events will cause large crowds to gather in the area - something LTA already predicted when they decided to build a large Stadium Circle Line station.
The closest properties are less than 500m away from the sports hub, such as the Casuarina Cove and Pebble Bay condominiums part of the Tanjong Rhu estate just across the riverbank. The completion of the sports hub will bring in the crowds and add liveliness to the area, but do residents have to worry about nuisance? Empirical data suggests that the positive benefits of living near a sports hub outweighs any possible drawbacks in terms of noise pollution during events.
Researchers in US (Charles C. Tu and the IASE) have shown that professional sports hubs increase quality of life of the people living in its vicinity, consequently raising home prices. Interestingly, the research also showed that home prices increases more as it gets closer to the sports hub. Indeed, residents in Tanjong Rhu have much to look forward to, since the sports hub once completed is literally just a footbridge away. All these hype surrounding the sports hub might also increase interest in properties in the area. A check with the URA Master Plan 2008 shows that all the currently empty land plots along the south bank of Geyland River facing the sports hub are zoned as residential. Perhaps we will see some of these sites up for public tender once the sports hub is complete.
Since the residential sites all have a plot ratio of 2.8, one can also expect mid-rise (10-15 storeys) developments in the area. A pretty neat height for a good view of fireworks during major sporting events I must say!
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