GEORGE TOWN: Residents in the upmarket Taman Jesselton Heights are likely to object to the redevelopment of the 81ha c (PTC).
In 2007, the Jesselton Residents’ Association protested vehemently against the proposed Penang Global City Centre (PGCC) project which would have included a retail complex, convention centre, performing arts centre, condominium towers, hotels, serviced apartments, and offices.
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And they are expected to once again object to any plans to construct high-rise buildings in the neighbourhood.
A resident who declined to be named said they would only agree if the redevelopment exclusively comprises low-rise landed properties.
“However, with a price tag of about RM700 per sq ft, how can they just build landed properties on the turf club land? (It’s) not economically viable,” he said.
Besides being one of the few green lungs left in George Town, the PTC is also one of the largest pieces of prime property and perhaps one of the most difficult to develop.
It is learnt that a few local developers have explored plans to redevelop the property and are considering whether to make a bid.
Some interested parties have also looked to its feng shui aspects to determine whether its location favours the development of a multi-billion-ringgit project.
Tan Sri Richard Cham, chairman of the Malaysia Totalisator Board that regulates horse racing in Malaysia, said the proposal by the PTC was understandable given the present economic climate.
“This is their prerogative. As we know, the horse-racing industry is facing tough challenges with poor attendance at the clubs in Malaysia,” he said.
“I think the decision they made is guided by the constitution of the club, and it is for the best for the club and its members.”
