Source : Straits Times - 5 Sep 2008
IT MAY not be as iconic as the Capitol Theatre building, but to those who grew up in the north-east, a 50-year-old complex in Serangoon Gardens may hold just as many memories.
But come next February, the old Paramount Theatre complex - now known as Serangoon Gardens Village - will be torn down.
In its place, a new mall will rise.
Developer Edmund Chye, 45, whose late father owned the Paramount, promises to infuse the complex with greenery, including a 3,000 sq ft elevated ‘forest’, a water cascade and a sunken garden.
‘The whole theme will be quite lush,’ he said. ‘It will be like coming home to your own courtyard.’
The mall now houses a FairPrice supermarket and a mix of food and beverage outlets.
Slated for completion in the third quarter of 2010, the new complex is expected to cost $40 million.
Residents and businesses in the estate, which dates back to the 1950s, have mixed feelings about the redevelopment.
Technical officer Roger Tan, 59, said: ‘I’ve lived here for over 30 years. Paramount holds a lot of memories. But the place is rather old, so a more modern complex will be good too.’
Ms Anne Chia, 39, who owns eatery and pub Happy Daze in a shophouse next door, worries that business could dip during the construction period.
Insurance agent Patrick Tan, 45, who lives less than 50m from the site, said he is concerned about the noise, dust and traffic congestion.
Another long-time resident, service manager James Ang, 46, said he feels ’sentimental’ about Paramount, recalling watching movies there as a boy. ‘It’ll be nice if they can name the new place Paramount,’ he said.
Mr Chye said that is an option under consideration, admitting he is nostalgic as well. ‘My brother and I used to watch the movies from the projector room,’ he said.
The cinema closed in the early 1980s. The place was then occupied by a series of tenants, including Fitzpatrick’s supermarket, a skating rink, Burger King and appliance chain Electric City.
Today, the mall’s main tenants include DBS Bank, Coffee Bean & Tea Leaf and Cafe Cartel.
FairPrice, which has been there since the early 1970s, said it is excited about the redevelopment.
Managing director Seah Kian Peng said: ‘Over the years, we have built a close relationship with the community in Serangoon Gardens. Some of our staff have worked at the store for many years and have become familiar, friendly faces to many of the residents.
‘We certainly want to be back there and will try our best.’
The new complex will have a supermarket as an anchor tenant and a ‘gourmet floor’. Mr Chye said about 40 per cent of the space will be for food and beverage outlets. The rest will be taken up by the supermarket, shops, grooming outlets, spas and banks.
He said Chye Lee & Sons, a property development company he runs with his twin brother Edward, has received numerous inquiries about shop space from well-known firms.
The new mall will have two floors and a basement carpark twice the size of the current above-ground one.
The complex’s floor area will jump to 62,000 sq ft - from 39,600 sq ft - and its shop space will increase to 38,000 sq ft from 31,700 sq ft.
Mr Chye has picked home-grown DP Architects to design the new development and Knight Frank to market it.
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