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Twenty seven trees will be chopped down to build Ho Chi Minh City’s first underground parking lot beneath Le Van Tam Park in District 3 while 362 others will be removed to a nursery.
However, trees will be replanted on the 40,000-sq.m parking lot following a landscape design contest, Le Tuan, CEO of the Investment and Development for Underground Space Corp (IUS), its developer, said.
The landscaping will be done by Singapore-based HTE consulting firm at an estimated cost of VND43 billion ($1.8 million).
IUS will also narrow the sidewalks along Vo Thi Sau, Dien Bien Phu, and Hai Ba Trung Streets bordering the 62,000-sq.m park to expand them.
The parking lot, work on which began last Sunday, will be able to accommodate 28 buses and trucks, 1,250 cars, and more than 2,000 motorbikes in five floors when ready in 30 months’ time.
Three other floors will be leased out to commercial users.
IUS will manage the facility for 50 years.
The company belongs to the joint-stock venture capital group VC Invest, which has stakes in Gia Dinh Infrastructure, DongA Bank, and Tien Giang Industrial Park and Infrastructure Development among others.
Work is expected to start in November on another underground parking lot on the corner of Cach Mang Thang Tam and Nguyen Du Streets in District 1.
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