Invitation to Tender for Lee Tung Street / McGregor Street Project in Wan Chai
The Urban Renewal Authority (URA) today (Monday) invited a total
of 15 property developers/consortia to tender for the joint
development of the Lee Tung Street/McGregor Street project in Wan
Chai.
The project covers a site area of about 88,500 square feet.
Upon completion, it is expected to deliver a maximum gross floor
area of about 835,000 square feet for residential and commercial
uses, together with public open space, a residential care home for
the elderly and conservation of three historical buildings.
The Lee Tung Street/McGregor Street project is one of the key URA
projects in Wan Chai, which incorporates redevelopment,
conservation and revitalisation elements. The project will
feature some "Wedding City" themed shops and a wedding traditions
and culture gallery in the three conserved historical buildings,
and some floor space will also be designated for social
enterprises.
Following the expression of interest exercise which was closed on
24 March 2009, 15 submissions were received by the Authority. A
tender review panel under the URA Board has decided to invite 15
interested parties for tender, after taking into consideration
their experience and financial strength to undertake the
development in accordance with the requirements and criteria set by
the Authority.
The tenderers will have to submit a proposal of upfront payment to
URA subject to provision that future sales income has to be shared
with the Authority as well.
Implementation of the project will help create more job
opportunities in Hong Kong, in particular for the construction
sector now suffering from a high unemployment rate. Moreover,
the kick-off of the project will help revitalise the area and
improve patronage flow.
All tender submissions should reach the URA Headquarters at 10/F
Low Block, Grand Millennium Plaza, 181 Queen's Road Central, by
5:00 pm on 15 June 2009.
ENDS