The Urban Renewal Authority plans to spend HK$1 billion on replacing a crumbling old housing block with a 25-storey residential block in Sham Shui Po, its fifteenth such project in the area.
In a press release Friday, the authority said it has gazetted plans to redevelop the old block thereby kicking off the statutory procedures under the Urban Renewal Authority Ordinance for redevelopment.
“The project area occupies a site at Tonkin and Fuk Wing Street in Sham Shui Po, covering an area of about 1,270 square metres (13,670 square feet). Built between 1955 and 1958, the 13 street numbers of buildings within the project area are generally in a poor condition. The buildings are five to seven storeys with no lifts and there are unauthorised rooftop structures observed,” Authority director for acquisition and clearance Ian Wong Wai-kuen said in the press release.
Total redevelopment cost was about HK$1.03 billion.
A total of 83 property interests are affected by the redevelopment.
A freezing survey would be carried out immediately to see exactly how many people are affected but the authority estimated there were about 110 households and 27 businesses.
On completion in about 2020/21, the building would have 7,460 square metres (802,299 square feet) of residential floor area for about 145 small to medium sized flats and commercial floor area of about 1,490 square metres (16,038 square feet).
The Authority said a survey of the building conditions showed that the building was generally dilapidated with unauthorised structures.
The redevelopment project still requires the final approval of the Secretary for Development.