The Lands Department today announced the resumption of a site at Pine Street and Oak Street, Tai Kok Tsui, for the implementation of the Urban Renewal Authority’s third project under the Demand-led Redevelopment Project Pilot Scheme.
Ninety-seven private property interests on the site will be resumed. The affected interests will revert to the Government three months from the date on which the resumption notice is affixed on-site. Details of the land affected were gazetted today.
Upon resumption and clearance, the 865-square-metre site will be redeveloped into a residential development with retail and ancillary facilities, including a basement car park.
Apart from their entitlement to statutory compensation, eligible domestic property owners will be offered an ex-gratia home purchase allowance or supplementary allowance. Eligible domestic occupiers will be offered rehousing or an ex-gratia cash allowance.
Eligible commercial property occupiers can choose ex-gratia allowance in lieu of the right to make statutory claims for business and related losses.
Affected owners and tenants of both domestic and commercial properties can make statutory claims.