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Old January 14th, 2008, 06:52 PM   #361
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Retrofitting Hung Hom Peninsula - New Name : Harbour Place
Billion-dollar day as 230 Harbour Place flats sold
Hong Kong Standard
Monday, January 14, 2008


in orange

About 230 of the 250 units launched in block 5 of Harbour Place in Hung Hom were sold on Saturday grossing about HK$1 billion, according to Eric Chow Kwok-yin, executive director of SHK Real Estate Agency.

In view of this, the average price of the remaining flats in blocks 4, 6 and 7 has risen by 3-5 percent from HK$7,000 per square foot, Chow said. However, he added the price of flats in block 5 will remain at HK$6,800 to HK$6,900.

Following the frenzied sales on Saturday, the first day of the property project's public launch, only 16 units were sold yesterday by 7pm, according to property agencies.

"The higher-quality flats were sold on the first day, leaving buyers with fewer choices on Sunday," said Lam Ko-wai, a senior manager at Midland Realty. Lam said he had heard a fund plans to acquire 50 units in block 5 while the developer is also holding 100 units on hand.

There are also some 200 units of Harbour Place block 4 to block 7 on the secondary market, but as yet not a single transaction, according to George Lam Sui-wah at Ricacorp Properties.

Due to the robust sales, property agents expect the price of block 1 to block 3 to be set 10-15 percent higher than the average price of around HK$7,000 psf.

"Blocks 1 to 3 have a better view of Victoria Harbour and Lei Yuen Mun," said Ricacorp's Lam.

"The developers said earlier that block 1 to block 3 may cost over HK$10,000 psf," added Davy Shek Ka-kei of Centaline Property Agency.
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Old January 24th, 2008, 05:52 PM   #362
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Redevelopment law gets cold shoulder
23 January 2008
Hong Kong Standard

Legislators are concerned that subsidiary legislation aimed at facilitating private urban redevelopment would trample on the rights of small property owners.

A government proposal to relax the compulsory land-sale application threshold from 90 to 80 percent _ for buildings 40 years old or above and those up to nine stories with all units but one acquired _ received unenthusiastic responses from development panel lawmakers yesterday.

But real estate and construction functional constituency lawmaker Abraham Shek Lai-him who welcomed the lower threshold said it would help squeeze out property speculators who bought flats to hinder redevelopment.

Civic Party legislator Alan Leong Kah-kit, though, said the subsidiary legislation to the Land (Compulsory Sale for Redevelopment) Ordinance ran contrary to the right to private property. Under the current ordinance _ enacted in 1998 _ developers or owners must acquire 90 percent or more of all undivided shares before applying to the Lands Tribunal for a compulsory sale order of the whole building.

Leong also said many small property owners would find it difficult to argue their case at the tribunal, claiming the legal fees of one party of property owners exceeded HK$1 million.

Democratic Party lawmaker Albert Chan Wai-yip accused the government of acting as ``a tool of unscrupulous developers.''

``If we lower the threshold, there will be a lot more redevelopment. The pace of acquisition will become more rapid, and the charm of older districts will disappear,'' he said.

``I understand some residents would be emotionally attached to their flats and would not want to sell, but society has to make a choice,'' Permanent Secretary for Development Raymond Young Lap-moon said.

He reminded the panel that the issue would arise only when 80 percent of owners were in favor of redevelopment.

``Some people who bought units expect to live out their lives in those flats. Many people don't want to leave their neighborhood as their families have been living there for generations,'' said engineering functional constituency legislator Raymond Ho Chung-tai.

Democratic Alliance for the Betterment and Progress of Hong Kong lawmaker Choy So-yuk said her constituents had complained about being forced to sell their flats against their will.

Currently, there are 7,500 private buildings of 40 years and above and 20,000 private buildings nine stories or less.

The panel will reconvene for feedback from deputations.
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Old January 25th, 2008, 06:02 AM   #363
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Quote:
Originally Posted by hkskyline View Post
Redevelopment : Cherry Street Project

11/10

Wow, what's with all the repeating buildings? It's like 3 sets of them in that picture
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Old February 4th, 2008, 07:47 AM   #364
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Alternative urban renewal proposal would maintain Central's wet market
1 February 2008
South China Morning Post

The vibrant Central wet market would be preserved and the scale of a proposed high-rise development cut back under an alternative redevelopment proposal by conservationists.

The World City Committee, comprising mainly expatriates who live and work in the market area, has devised a plan that preserves the oldest market in Hong Kong and a significant part of the area's streetscape.

The proposal suggests erecting two high-rises of 18 and 23 storeys, instead of three buildings of more than 30 storeys, which is the plan of the Urban Renewal Authority. The blocks bounded by Graham, Peel, Wellington and Gage streets would be either renovated or rebuilt, but according to the existing parameters.

Committee member Amil Kahn said the proposal would reduce gross floor area by 36 per cent and keep the vitality of the wet market.

"Our plan does not aim at maximising profit," he said. "[That] is not good in the long run. In an area with such rich intangible cultural heritage, we should go deeper than that."

The volunteer group is to submit its plan to the Town Planning Board today. But the Urban Renewal Authority, tasked to redevelop the area, had its master layout plan for the area approved by the board last May.

The alternative scheme also argues that the redevelopment should be done in phases to allow existing vendors to continue doing business. More than one developer should also be invited for upgrading or redeveloping the building cluster to allow more variety of design, it proposes.

"Instead of having just one big owner, we hope to have the blocks go through a gradual transformation, like what happened in Soho," said group member Jay Forster.

Under the HK$3.8 billion plan spearheaded by the Urban Renewal Authority for the area bounded by Cochrane, Gage and Wellington streets, two residential blocks built over a four-storey podium are planned, as well as an office tower and a hotel on top of two podiums.

A spokesman for the Urban Renewal Authority said the submission of an alternative master plan on the project would not affect the implementation of its scheme. He said about 60 per cent of people in the area had accepted the authority's compensation package.
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Old February 4th, 2008, 08:07 AM   #365
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Quote:
Originally Posted by dtzeigler View Post
Wow, what's with all the repeating buildings? It's like 3 sets of them in that picture
They are apartment complex or developments composed of several towers which is typical in HK.

To some they are NIMBYs cause they create scraper walls.
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Old February 5th, 2008, 07:40 PM   #366
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Quote:
Originally Posted by WANCH View Post
They are apartment complex or developments composed of several towers which is typical in HK.

To some they are NIMBYs cause they create scraper walls.
To give a bit more context to the real estate industry in Hong Kong, here is how land is developed :

Large parcels of land are auctioned off by the government, and developers would maximize the plot ratios to build as many towers as possible, hence it's usually rare that an empty site will result in only 1 building being developed. They usually come in series. In the older districts where expropriation is more difficult, then 1 tower-developments are likely (ie. Sham Shui Po, even Central, such as The Centre).

Not all such developments are being targeted by citizen groups. It is very wrong to claim the NIMBYs bounce on these large-scale developments over skyscraper walls. That is not the truth at all, and that comment was likely made due to ignorance over Hong Kong's local affairs.

The skyscraper wall issue arose as large-scale developments along the harbourfront started blocking off the much lower-height buildings in the older parts of Kowloon, which were built when height restrictions were in place when planes used to land at Kai Tak. The concern is whether these new series of tall buildings of over 40 stories tall will block the airflow from the sea into these older districts, causing ventilation problems and worsening the heat problems with Hong Kong's hot summers.
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Old February 29th, 2008, 02:13 PM   #368
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Related News from the Urban Renewal Authority:

URA commences planning for two projects in Ma Tau Kok
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Old March 5th, 2008, 02:41 PM   #369
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I don't know why the Henessy Centre was demolished for no apparent reason, but I have yet to know what it needs to replaced with. Was the demolition a bad thing? Will the new buildig replacing the Hennessy centre be taller or shorter than the old one?
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Old March 7th, 2008, 06:35 AM   #370
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Press Release from the Urban Renewal Authority:
URA starts the sixth redevelopment project in Tai Kok Tsui

HK Gov't Gazette:
Urban Renewal Authority Ordinance (Chapter 563)--Notification of Commencement of the Anchor Street / Fuk Tsun Street Development Scheme by the Urban Renewal Authority
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Old March 9th, 2008, 07:36 PM   #371
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Quote:
Originally Posted by hkskyline View Post
Redevelopment : Cherry Street Project
3/9

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Old March 10th, 2008, 02:50 AM   #372
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tall and skinny, just the way I like it!
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Old March 10th, 2008, 07:36 AM   #373
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'Lack of vision' on disappearing landmarks
Hong Kong Standard
Monday, March 10, 2008

The Urban Renewal Authority's projects, from the demolished Wedding Card Street in Wan Chai to Sneakers Street in Mong Kok, have in recent years drawn strong opposition from local communities.

This has resulted in planners and academics warning the government to revamp the role and strategy used in revitalizing the city.

Lee Ho-yin, director of Hong Kong University's architectural conservation program, said the statutory body's existence "is fundamentally a contradiction."

"This is a conflict of interest," he said, adding that the authority's agenda should be to redevelop for the public good, and not to function like private developers to maximize profit.

The authority was established in 2001, with the government fronting HK$10 billion to carry out urban renewal.

With no further funding, the authority has to be self-sufficient through joint redevelopment ventures with developers.

Projects like the demolished Wedding Card Street and the proposed Sneakers Street project were criticized by residents and conservationists for destroying streetscapes and community networks. Lee said the current public participation involves only information sessions offering limited choices, and true public voices are not reflected.

Planner Peter Cookson Smith said the authority is taking an overly simplistic view on redevelopment, without sophisticated evaluation. "The current approach is not done with neighborhood sense. It should facilitate small-scale or incremental redevelopment," he said.

The Development Bureau will conduct a review of the urban renewal strategy in the next few months.
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Old May 6th, 2008, 10:37 AM   #374
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Old July 14th, 2008, 06:17 AM   #375
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URA not the only model for urban rejuvenation
7 July 2008
South China Morning Post

The government has formally kicked off the urban renewal strategy review in the Legislative Council. In the related papers and presentations, the question that is not asked is what alternatives there are besides the Urban Renewal Authority (URA). Can we achieve urban renewal by focusing our efforts on halting the construction of shoddy buildings, stricter enforcement of repair orders, the closure of inhabitable buildings and better co-ordination of planning, lands and building regulations to help private sector redevelopment?

Urban renewal is sold as a policy to help those who live in unbearable conditions and to eliminate urban decay from our city's landscape. Looking back in history, the predecessor of the URA, the Land Development Corporation (LDC), was set up in 1987 to speed up land development as low plot ratios were considered an inefficient use of land. Those opposed to the LDC preferred the government to beef up its resumption powers. Instead, the government decided to minimise direct subsidies by setting up a separate body to handle resumption and related compensation.

In 2001, the LDC was replaced by the URA with greater powers to assemble land, apply for direct resumption, borrow money from the government, forego land premiums, relax plot ratios and gain exemptions for various facilities from the gross floor area calculation.

To gain support from the politicians and the public, the government increased the compensation offered to affected owners over the years. In 1987 Kowloon City residents received the equivalent of a Home Ownership Scheme property. Next, the LDC compensated them with the "fair market value" of resumed premises, which gradually increased to the value of a 10-year-old flat. The URA now pays the equivalent of a seven-year-old property.

These growing powers and increasing costs are reflected in the size of the URA projects replacing the old neighbourhoods. Their massive bulk - on average a threefold increase and often beyond what good urban planning may dictate as appropriate for the area - pays for the compensation, the operational cost (and profits!) of the URA, while also providing a handsome profit for the developers.

This model is unsustainable. Just imagine the size of the urban renewal projects required to replace, say, Tseung Kwan O in 30 years' time. Already, today, there is growing awareness of the limits to the intensification of our urban land.

The 47 LDC and URA projects have so far helped out 31,000 residents. It is claimed that another 110,000 residents are still living in squalid conditions in 200 or so projects. No details are released in fear of raising expectations.

However, taking into account that the buildings department reported over 17,000 potentially dangerous buildings in 1990, it does appear that a good part of Hong Kong's urban decay has been resolved by the private sector over the past two decades. The outcome of their initiatives is often less intrusive with smaller buildings and the renovation of existing properties, as can be seen around Soho.

The first requirement is that we halt the addition of new, substandard buildings with greater control over construction standards. Next, we need diligent enforcement of statutory repair orders and swift action with closure orders in case properties become dangerous and uninhabitable. The other side of this approach is that the existing welfare safety net needs to be strengthened for affected residents who lose their homes or suffer expensive repair orders. The cost of doing so is offset by the land premiums received from developers when they convert land leases.

On the one hand we have the URA, a dedicated machine with enormous powers; on the other, we can facilitate the market and redevelop our land organically. Let's make sure that the review of the urban renewal strategy considers all options between these extremes.

Paul Zimmerman is a founding member of Designing Hong Kong
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Old August 21st, 2008, 04:20 PM   #376
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Sham Shui Po families get HK$1.4b to move
21 August 2008
South China Morning Post

A total of HK$1.4 billion will be spent to compensate and rehouse residents affected by an Urban Renewal Authority redevelopment project in Han Tan Street, Sham Shui Po.

Owners of domestic properties would be offered HK$5,297 per sq ft of saleable floor area, which surveyors and district councillors said was reasonable.

Covering an area of about 80,000 sq ft and three adjoining sites at Han Tan, Kweilin and Pei Ho streets, it is the largest redevelopment project in Sham Shui Po since 2002. A total of 389 property interests and 680 families are affected, the authority's figures show.

Owners who accept the offer within 60 days will be given an incidental cost allowance of HK$111,900, or HK$98 per sq ft of saleable floor area, whichever is higher.

Surveyor Pang Siu-kei said the offer was "a good one".

The four private housing estates in Mei Foo built after 1997 are selling at around HK$3,800 to HK$4,000 per sq ft of building area, he said, so the authority's higher offer for the saleable area was a reasonable one.

Sham Shui Po District councillor Wai Woon-nam agreed that the acquisition price was good, compared with the offer made for an adjacent authority project in Yee Kuk Street two years ago of HK$3,894 per sq ft.

"But there are not many suitable housing units available nearby. The property owners, mostly old people, have been living with their families in flats as large as 1,000 sq ft. They are unhappy to move out of the community," he said.

Apart from residential and commercial development, the authority proposed to build a small town square and an exercise garden. The project is due to be completed in 2014.
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Old August 25th, 2008, 07:56 PM   #377
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Redevelopment : Cherry Street Project

8/24



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Old August 29th, 2008, 05:17 AM   #378
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Ensuring best of both worlds
New development modernises an area of the district while preserving specific historic buildings
27 August 2008
South China Morning Post



Standing on the corner of Johnston Road and Ship Street are four distinct old Chinese shopfronts, carefully preserved under the watchful eye of the Urban Renewal Authority (URA) and K.Wah International Holdings, developers of the site.

The shopfronts, once home to businesses ranging from a pawn shop and a school uniform shop to a pet shop, are now the JSenses which houses restaurants serving up world-class cuisine, and designer shops. Just above them stands a new residential tower, K.Wah's JResidence, completed in November last year.

It is possibly the first residential block in Hong Kong that modernises an area of Wan Chai while preserving specific historic buildings.

"What really was good was that we share a lot of values and philosophies with the URA," said Alexander Lui Yiu-wah, managing director of K.Wah International. "When we started the project, I saw that there were a lot of things that we could do to give a little back to society and the Wan Chai district. We wanted to make this project become part of Wan Chai, not just by putting up a new building, but by preserving the area's heritage as well."

The JResidence is different among luxury residential buildings in Hong Kong in that its clubhouse sits on the top three floors of the tower, as opposed to being located below.

"This means that the general public are able to benefit from dining in and experiencing the preserved buildings below as opposed to making them exclusive to our residents," Mr Lui said. "We have not ignored anyone's needs in the project and managed to incorporate heritage, commercial and public interest, and the district's needs."

The driving force behind the project was a need to create quality living space in the Wan Chai district, which is slowly attracting more residents from Central. "At the time we designed the building, a lot of people working in the Central and Admiralty didn't have much choice where they lived - it was either Mid-Levels or a few of the places along Star Street, there were no high quality residential buildings in this neighbourhood," he said. "We saw this an opportunity to move into the area and supplement what was being offered in Central."

Mr Lui explained that projects such as JSenses and JResidence were vital in rejuvenating certain areas of Hong Kong that could benefit from having a major developer bring more people to shop and live in the area.

"After we completed this project we noticed that there has been a lot more interest in the area and many more people visiting. We have given appreciation to the whole neighbourhood, and the shops around us are all upgrading."

In addition to respecting the local heritage, the development of JResidence and JSenses was done with environmental issues in mind, and the tower incorporates designs aimed at reducing energy consumption and the heat-island effect.

"The company as a whole incorporates environmentally friendly measures into its developments. At JResidence we incorporated a very high ceiling on each of the floors. This meant we could have large windows that make the most of the natural light coming into the building, thus reducing energy usage," Mr Lui said. "The high ceilings also increase ventilation throughout the building, which in turn reduces the cost of air conditioning."

The three-storey clubhouse includes a swimming pool and a green roof-garden.

"In terms of construction, we used cement partitions instead of the conventional bricks and mortar," he said. "These produce far less waste in the construction process.

"Of course, these things cost a little bit more to implement, but that little bit of extra cost helps everyone, including us, in the long term."
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Old September 2nd, 2008, 07:45 PM   #379
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Beacon Lodge

Rendering



Completion

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Old September 4th, 2008, 10:19 AM   #380
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Loving these smaller scale, slightly better designed towers...
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