The Development Bureau wants to change the construction of an industrial building on the harbourfront in Quarry Bay to something more suitable for the location.
It made the statement today saying it will seek Executive Council approval for an in situ land exchange for the two private lots on Hoi Yu Street.
The bureau said the community wants a development that is more compatible with the surrounding environment.
The lot owner has suggested a waterfront leisure, tourism and commercial development providing retail, hotel and office facilities could instead be built on a strip of land straddling a portion of the private lots and extending into adjoining government land at the prominent waterfront location.
The lot owner has engaged consultants to undertake detailed design and technical studies for the proposed development in preparation for a consultation with the Eastern District Council and the Harbourfront Commission.
Taking advantage of the harbourfront setting, the facilities will help turn the area into a leisure and tourism node.
A 10-metre-wide promenade will also be maintained along the Hoi Yu Street waterfront for public enjoyment, and pedestrian access will be provided to enhance the connectivity to and vibrancy of the waterfront.
Taking into account the gross floor area of the proposed development and the current height restriction of the area, the development will need to take up additional government land in addition to the land owned by the lot owner.
This will be effected by an in situ land exchange subject to payment of full market premium that requires ExCo approval following Town Planning Board endorsement.
According to the initial estimate, the lot owner will surrender the two private lots with a total area of 2,477 sq m in return for a re-grant of 8,532 sq m of land from the Government.