Largest redevelopment scheme
As the project is the largest single redevelopment scheme the authority has ever undertaken, covering 5.3 hectares with over 1,600 property interests, affecting 4,500 residents and costing nearly $30 billion, Mr Lam said it will be implemented by phases and will take 12 years or more to complete. After the revamp, the Yue Man Square will be four times larger than before. Existing large trees and the district's special features will be retained.
Mr Lam noted people in the district want quality residential space, plenty of greenery, a commercial hub with a landmark building, and enlarged open space. In this regard, the proposed plot ratio for the commercial hub will be 12 while that for residential and recreational space be 4.5. Results of air-ventilation assessments for the proposed designs also showed air circulation in the district will improve 20% to 70% after the revamp.
Public participation Mr Lam stressed full public participation is key in the project's planning, design and implementation, adding a prudent financing strategy is a must to ensure the project's financial viability and sustainability.
He urged people to air their views in the two-month consultation launched on Tuesday. A road show of the three proposed design models is being staged at 71 Hip Wo Street, Kwun Tong until August 31. It will be staged at 'apm' Office Tower Lobby from September 2 to 9, Tseung Kwan O Metro City Plaza II from September 19 to 20, and Yau Tong Lei Yue Mun Plaza from September 25 to 27.
Mr Lam said the authority had so far activated about 40 projects and carried out repair works on 20,000 buildings.
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