Seven blocks along Commonwealth Drive are the latest to come under the Housing and Development Board’s (HDB) Selective En Bloc Redevelopment Scheme (SERS).
Blocks 74 to 80, which are 44 years old, will make way for redevelopment.
The latest site has a total of 669 flats.
This brings the total number of sites identified for SERS since the scheme started in 1995 to 72.
HDB said it will build 730 units of 2- to 5-room flats nearby to re-house affected residents.
These replacement flats will be located across from their present homes near the Commonwealth MRT station and Tanglin Halt neighbourhood centre, with a range of shopping and dining options.
Affected flat owners will receive compensation for their existing units based on prevailing market value and will be able to buy replacement flats at subsidised prices.
Eligible SERS flat owners will be invited to register for their replacement flats in the third quarter of 2009.
The redevelopment plan will also affect 24 rental shops and two rental eating houses.
Eligible tenants will be given an ex-gratia payment of S$60,000 per tenancy and a 10 per cent discount on their successful bids for other HDB rental commercial properties.
HDB will hold an exhibition of its plans from August 14-20 at Block 79 Commonwealth Drive.
Source : Channel NewsAsia – 8 Aug 2008