The Taipei Department of Urban Development yesterday began accepting tenders for the first city-led urban renewal project, a site on Shaoxing S Street belonging to National Taiwan University, which is to be transformed to an educational, residential and commercial complex.
The site on the corner of Shaoxing S Street and Renai Rd Sec 1 covers 1.4 hectares, and the university owns 90 percent of it.
The department said it hopes to build 93 public housing units on the site, while an area would be allocated to the university for research and education purposes.
The winning bidder would be required to design the buildings and pay construction fees to the city, which would be in charge of the construction, the department said.
In return, the winner would receive bonus floor space in two nearby areas on a site zoned for commercial use.
The space on the plot is to be leased out in the form of superficies over a 50-year contract, the department said.
It said it hopes to secure NT$3.3 billion (US$105.1 million) in private-sector investment.
Tenders will be accepted through Nov. 4 and vetting is to begin three days later, the department said.