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Friday, December 16, 2016, 16:46

URA project to offer 200 flats in Tai Kok Tsui

By Willa Wu

HONG KONG - Hong Kong's Urban Renewal Authority (URA) announced its plan to redevelop a residential building in Tai Kok Tsui, Kowloon, expecting to provide 200 residential units by 2024/2025, said the URA’s head on Friday.

The redeveloped site is on Man On Street and Tai Kok Tsui Road with nearly 60-year history and “unsatisfactory condition”

This marked the second time the statutory urban redevelopment body eyed on project in the famous old industrial district near Mong Kok, after it pushed forward the demand-led pilot schemes in 2015, aiming to speed up redevelopment process.

Briefing the media with the project details, URA’s Planning and Design head Roger Tang Man-hung added the project would cost around HK$1.7 billion but expect a deficit.

He explained that many factors would contribute to the loss, like the plot-ration gains and construction costs.

The redeveloped site is on Man On Street and Tai Kok Tsui Road with nearly 60-year history and “unsatisfactory condition”. It is occupied by about 168 households and 19 ground floor shops. Many of the units are sub-divided flats. The new units would range from 300 to 600 square feet.

Kelvin Chung Kin-keung, URA’s Acquisition and Clearance General Manager noted that URA has to get at least 80 percent of existing owners to accept its acquisition offer before it can proceed the project with the Development Bureau.

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