The URA launched the redevelopment of Queen's Road West and Guixiang Street to provide 180 small and medium residential units

The Urban Renewal Authority launched the "Queen's Road West/Guixiang Street" development project in Sai Ying Pun, Hong Kong Island today (2nd). The total site area is about 1,295 square meters, which is a small-scale project.

The total floor area of ​​the redevelopment project is 10,150 square meters, of which 8,950 square meters is residential floor area. It is expected to provide about 180 small and medium-sized residential units, each with a minimum size of 300 square feet.

Another 1,200 square meters of non-residential floor area will be reserved to provide about 150 meters of public open space. The planning period is about 9 to 12 months. The project is expected to be completed in 2031/32. It is also the third project in the Sai Ying Pun area.

The purpose of this project is also for the Bureau to start a new project within two months after the two projects of "Five Streets" in To Kwa Wan.

The URA's "Queen's Road West / Kwai Heung Street" development project site boundary, adjacent to Chung Hsing Lane Children's Playground in the north, Kwai Heung Street in the east, Kwai Heung Street in the south, Queen's Road West in the south, and West Adjacent to Main Street.

According to the relevant regulations, within two months from the date of the first announcement of the announcement, that is, today (2nd), the public can consult the description of the general nature and impact of the project, as well as the plan demarcating the land boundary of the project .

In addition, according to the provisions of the Regulations, if anyone thinks that the relevant project will be affected and wants to object to the implementation of the project, he may submit a statement of objection to the project (objection letter) within the announcement period and submit it no later than next year. Delivered to the URA on February 2.

URA General Manager (Planning and Design) Guan Yihui said at a press conference today that the URA has launched two projects nearby, one of which will improve the accessibility of Des Voeux Road West and Guixiang Street to the children's playground in Chongqingli It is hoped that it will have a synergistic effect with new projects.

This project will further expand the entrance to the playground from Queen's Road West, improve the connectivity of the open space and the walking environment in the area, and will also rebuild the buildings and update the construction environment of the area.

Kwan pointed out that this land resumption involves about 15 street numbers, and the affected ownership is expected to be about 80, involving 100 households and 20 ground-floor shops. The average building age is about 60 years, and the existing buildings are 4 to 6 stories high. Elevators, many buildings have been in disrepair, and there are subdivided households, and the environmental sanitation is not good.

He expects to put forward land resumption and compensation proposals in 2025/26, the affected tenants will move out in 2026/27, and the entire project will be completed in 2031/32.

He said that although property prices have been lowered recently, there are still fluctuations, and the planning period is as long as 9 to 12 months, that is, the acquisition proposal will be proposed to the owner in the first half of 2024, so it is difficult to predict the land acquisition price and cost effect.

As for launching two projects in two months, he pointed out that the URA hopes to "promote one after another when it is mature". When it sees that the neighbors in the old district have reconstruction demands and needs of the citizens, "they will be anxious about the needs of the citizens."

He also pointed out that because the project is relatively detailed, the financial pressure on the URA will not be too great.

The Urban Renewal Authority's Kowloon City Redevelopment Trial New Strategy Wei Zhicheng: The integration of the old and the new is the meaning of Renewal To Kwa Wan Redevelopment Prospective large-scale industrial building owners participate in the URA: Small owners may quit the URA due to the long return period. Clearing the site can lead to early construction. The civil servants cooperative will try the URA to launch two reconstruction projects including To Kwa Wan "Five Streets". The construction of 2,200 units is expected to cost more than $10 billion.