Invitation for Expression of Interest for Cherry Street Project

The Urban Renewal Authority (URA) tomorrow (Monday) will invite estate developers to provide an expression of interest (EOI) for the joint development of the Cherry Street redevelopment project in Tai Kok Tsui, the second site successfully cleared since the URA launched its urban renewal programme in March 2002.

The project site covers an area of about 48,500 square feet and is expected to deliver a gross floor area of about 459,000 square feet for commercial and residential purposes upon completion in 2008. In addition, a residential home for the elderly of about 11,800 square feet and about 19,000 square feet of open space will be provided.

The EOI exercise is intended for gauging the interest of private developers in joint venture partnership with the URA.

Parties interested in the project are expected to indicate their professional competence and financial capability to undertake the development in accordance with the requirements and criteria set by the Authority.

Submissions should be returned to the URA Headquarters at 10/F Low Block, Grand Millennium Plaza, 181 Queen's Road Central, by 5 pm on May 28, 2004.

A selection panel under the URA Board will shortlist the qualified parties and invite them to submit a formal tender for the development. It is expected that the tender exercise will follow shortly.