Secretary for Development Carrie Lam welcomes the Urban Renewal Authority's decision today to accept the revised plan for the Staunton Street-Wing Lee Street project.

Mrs Lam said the revised plan has made substantial changes, including adopting a conservation-led redevelopment approach for the project instead of undertaking it as a redevelopment with preservation elements.

The Chief Executive's Policy Address said the original site of Central School in that area would be removed from the List of Sites for Sale by Application to achieve monument preservation and revitalisation.

Mrs Lam said proposals will be invited in January. Its planned use will be for creative industries and education.

Historic significance

Explaining the rationale behind the proposed shift, authority chairman Barry Cheung said the historical significance and the streetscape ambience of the project could be better manifested in the refined development option, which ties in with the Government conservation policy on revitalising the former police married quarters on Hollywood Road.

As a result of the proposed changes, this conservation-led redevelopment project will reduce the approved plot ratio permitted under the Planning Brief from eight to not more than 4.5. Hence the development will incur a deficit of $170 million based on the latest estimates.

Upon completion in 2015 the project will deliver about 600 square metres of public open space and 11,600 square metres of gross floor area.

Mrs Lam expressed gratitude to the authority for it's co-operation with the Government in creating jobs for it has agreed in principle to inject $250 million into building management and district beautification works. She added she will work with the body to solve problems arising from the lack of owners' corporations in some buildings.

In the midst of the economic downturn, Mrs Lam urged everyone to make concerted efforts to create more job opportunities for local workers.