Kwun Tong blueprint turning greener

The Urban Renewal Authority has submitted a revised HK$30 billion blueprint for the Kwun Tong Town Centre redevelopment to the Town Planning Board.

The authority's executive director of planning and development, Iris Tam Siu-ying, said yesterday improvements to the original plan included the removal of stores at the minibus station to improve accessibility and ventilation while the cooling system would use fresh water instead of seawater.

In December the authority will begin the acquisition of all 1,656 properties at an estimated cost of HK$14 billion. It is studying whether to borrow money from banks.

The redevelopment includes a 61-story, 280-metre commercial landmark, a bus and minibus terminal, a multipurpose building that will also house government offices and a large civic square.

There will also be five residential buildings providing 2,000 flats. The revised plan has tripled the greenery area from 2,650 square metres to 8,700 sq m and increased the surrounding air ventilation by 40 percent. There will also be more public spaces.

The design focuses on the sustainability of development and prevention of a "wall effect" with different heights of buildings. More ramps, lifts and guide signs will be made to help the disabled.

The area for redevelopment is about 5.3 hectares and will be separated into five phases. Tam said the expected 12-year period was just an estimate.

Project director Ernest Lee Shu-wing said the redevelopment's internal rate of return would fall to 4 percent –– very low for property projects.

"It's a social mission, the project must go on," Lee said.

SK Pang Surveyors managing director Pang Shui-kee said the project would inevitably experience a deficit under a low internal rate of return and the economic downturn.

Beatrice Siu
The Standard, 10 September 2008