The framework for a demand-led redevelopment model to let owners decide if they want the Urban Renewal Authority to redevelop their properties has won approval from the authority's board. The framework is consistent with the people-oriented and bottom-up approach in the new Urban Renewal Strategy.
Speaking to the media today, authority chairman Barry Cheung said the board gave careful consideration to the new model's arrangements. It agreed that one or two demand-led development projects should be tried out as a pilot scheme.
He said as the demand-led redevelopment model is a new initiative, they will refine and enhance its implementation framework after gaining practical experience from the pilot projects to better meet property owners' needs.
Applications for demand-led projects are open from July to end of October. Consideration will be given to those successful ones for inclusion in its 2012-13 business plan.
Unsuccessful owners can either consider seeking facilitation assistance from the authority or re-submitting their applications the following year.
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