The Urban Renewal Authority has kicked off a $3.14 billion sports retail city project under the Sai Yee Street redevelopment in Mong Kok which will see the birth of a sports activity zone through urban regeneration.

Construction is due to be completed by 2013 at a cost of about $1.14 billion. It will cost another $2 billion to acquire property from existing owners and to pay compensation to or re-house tenants.

The authority said today the sports retail city is designed to enhance the unique local character of the sports retail trade in Fa Yuen Street, Nelson Street and Shantung Street - dubbed "Sneaker Street" due to its concentration of trainers shops.

Athletes' paradise: The Urban Renewal Authority says the Sai Yee Street redevelopment project will feature a sports retail city designed to preserve the current unique business character there.

It will provide about 88,800 square feet of floor area for retail, recreation, sports and cultural uses, and 150,000 square feet for residential uses. It will also cater for all kinds of sports-related services for leisure, fitness training, interactive simulated sports for family and fun, and health-food sales.

All sports retailers affected can choose to move back to continue their business when the project is completed, the authority said.

Unveiling the design, head of the architecture consultant team Prof Bernard Lim said he has adopted a "free form" approach with a cluster of small shop units that would blend in well with the small shops in the neighbourhood.

The sports-themed streetscape will link up the retail city with the nearby Macpherson Playground and the proposed Macpherson Indoor Stadium to form a sports activity zone.

"Inter-connecting open spaces, view corridors, spacious landscaping terraces and transparent glass facades will give visitors a dynamic and upbeat feeling," Prof Lim said.

Hall of Fame

Hong Kong's first Sports Hall of Fame will also be set up as a special feature of the city. It will display exhibits, historic objects and souvenirs commemorating Hong Kong's achievements with a brief history of all top-notch athletes.

"More and more Hong Kong athletes have achieved outstanding results on the international arena. A Hall of Fame is a fitting recognition and tribute to them and those to follow. It can also serve as an encouragement to the younger generation of sports lovers," Prof Lim said.

The redevelopment project is the last of the 25 uncompleted projects announced by the then Land Development Corporation in early 1998. Legislative Council members and Sai Yee Street residents have been calling for early redevelopment.

It covers a site area of about 26,500 square feet bounded by parts of Sai Yee Street, Nelson Street and Fa Yuen Street and accommodates a total of 14 buildings, all 40 to 55 years old, with about 220 households and a total of 500 residents.

There are also about 38 shops, including 19 sports retailers that represent about a quarter of all sports goods shops in the area. The remaining three quarters will not be affected by the project.

Compensation package

The authority today carried out an occupancy survey at the site to ascertain the occupants' status for property acquisition, compensation and rehousing.

The authority's District Development Director Stephen Lam conceded this is one of the most difficult projects it has handled so far, saying it is impossible to fully satisfy everybody.

"But we have tried exceedingly hard to come up with a balanced package to cope with the demands of all stakeholders as best as we can. We would continue to maintain a close dialogue with all stakeholders, in particular the shop owners and operators, to alleviate their concerns," he said.

The authority's existing compensation policy is based on Government compensation policy approved by the Legislative Council Finance Committee. It will also implement three new measures for the project. For details, click here.

The authority will issue purchase offers to the owners for acquiring the 175 affected property interests within the next three months.

A series of briefings for the affected owners, residents and shop operators will be organised and an urban renewal social service team of The Salvation Army will provide professional and practical services.

For enquiries, call 2588 2333.