The extension of Chengdu Metro Line 3 to the north east of the city brings with it opportunities to connect Xindu district to the centre of Chengdu, and act as a catalyst for growth in this emerging area of the city.
Around Sanhe station, a new area will develop exemplifying transit-oriented development. The masterplan encourages healthy living and community cohesion or neighbourliness. It will be an exemplary residential community with its own local commercial focus, with shared amenities, public spaces and attractive streets.
Working with architects Hawkins Brown International (HBI), Happold Consulting was commissioned to develop a new scheme for the site that maximised passenger throughput, financial return and positive socioeconomic outcomes for the local municipality. We were specifically charged with undertaking a preliminary economic strategy with a view to maximise land sale returns. This involved design review and a wider real estate study of the options for development of the site.
The masterplan development involves the building of a new elevated station concourse over a busy highway, linking the two main plots on the site and the development of new buildings to the east and west of the new concourse. The options varied in terms of the height of new buildings (and thus the overall floorspace that is created) and the division between commercial office, retail, hotel and residential space. The overall objective was to assess the scheme components and mix of uses that would maximise return on investment.
Our work included undertaking a full local demographic and economic assessment of the Sanhe metro station’s past, current and future potential. By modelling various real estate growth and return scenarios, particularly in terms of the residential real estate component, our team was able to determine the most promising economic sectors for the site and establish the enablers to achieve this growth, including supporting infrastructure.
In addition to this, an options appraisal was carried out, assessing critical success factors, costs, viability and risks, including establishing the definition of each land plot. The team also reviewed the extent to which the development of the new station at Sanhe could act as a catalyst for growth in high end service industries and a permanent middle income population; with a view to increase land and rental values. This latter impact could further increase the overall potential return to investing in the station’s development.
- Part of the 38.4km Chengdu Metro Line 3, under construction at a cost of RMB 18 billion
- Located in Xindu; one of the fastest growing districts in Sichuan Province
- The station is expected to serve a residential population of 20,000+ by 2020