Ageing homes: Sai Yee Street residents have pushed for redevelopment to improve their living conditions.

The proposed Nga Tsin Wai Village revamp will adopt an innovative preservation-redevelopment approach while the Sai Yee Street project will aim to retain the street's character, boost economic activities and balance the stakeholders' interests, Urban Renewal Authority Managing Director Billy Lam says.

Speaking on a radio show, Mr Lam said the proposed Sai Yee Street revamp will affect 16 sports shops, accounting for 25% of such shops in the vicinity in Mong Kok.

Noting domestic residents prefer redevelopment and shop operators support rehabilitation, Mr Lam pointed out the buildings there are too old for rehabilitation and residents have been pushing to see their living environment improved as soon as possible. District councillors have also indicated their support for redevelopment.

He stressed all these aspirations will be taken into account in project planning, and hoped the final scheme can balance different stakeholders' interest, and bolster economic activities and the local features there.

Innovative concept

On the proposed Nga Tsin Wai Village revamp, Mr Lam said the $1.24 billion project will adopt an innovative conservation-by-design concept. This will help preserve as many authentic structures and elements as possible while designing and recreating a walled village park to resurrect the ambience of the village history.

Under the concept, residential redevelopment can also proceed in parallel. Two residential towers will be built far apart, leaving at least 60% of the site area open for the conservation park.

He noted the idea has considered advice from both conservation and architectural/landscape experts, adding preservation and redevelopment are not necessarily conflicting or mutually exclusive.

The authority will issue acquisition offers to individual property owners in three months.