URA tender closes for Cherry Street project
In response to media enquiries on the tender submissions for the
joint development of the Cherry Street project in Tai Kok Tsui, the
Urban Renewal Authority (URA) today (Thursday) issued the following
statement:
A total of nine tender offers have been received for the
residential/commercial development in Cherry Street, Tai Kok
Tsui.
A tender review panel under the URA Board will consider the
tenders and make recommendation to the Board for a decision in due
course.
Earlier, 17 developers took part in an expression of interest
exercise for the project. Sixteen of them were qualified and
invited to place a tender.
The Cherry Street project 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.
A URA spokesman said that it was hoped that the project would not
only renew the site of dilapidated buildings but would also
generate a revitalizing impact on the neighbourhood.