Applications open for 4th round of demand-led redevelopment projects

The Urban Renewal Authority (URA) is inviting applications for the fourth round of projects under its pilot demand-led redevelopment scheme as from today (Thursday) until 9 September 2015.

Speaking at a media briefing today, Director (Planning and Design) of the URA, Mr Michael Ma, said: "The demand-led redevelopment model is one of the key initiatives set out in the Urban Renewal Strategy promulgated in 2011, enabling the URA to take a more diverse approach in redevelopment in order to speed up the pace of urban renewal; as well as providing an opportunity for owners to initiate redevelopment of their own properties."

In the first three rounds, a total of 11 demand-led redevelopment projects were selected and commenced, among which two were terminated as the requisite 80% owners' acceptance of URA's conditional acquisition offers could not be attained before the stipulated deadlines. A comprehensive review of the pilot scheme was conducted in 2014 and some revisions have been made to it.

Mr Ma said the fourth round of demand-led applications would have the following eligibility requirements:

• Joint application by owners of not less than 80% of the undivided shares of each lot of an applicant site. If an owner owns not less than 20% of the undivided shares in any lot, he/she must be among the applicants;
• All buildings within the site are classified as "Poor" or "Varied"; and
• The total area(s) of the lot(s) in the site should be no less than 700 square metres.

The URA will assign greater weighting to the conditions of buildings in the project selection process with the relevant weighting raising from 30 percent to 50 percent. If the application involves buildings with non-compliance of building orders issued by the Buildings Department, scores will be deducted.

"This is to make it clear that URA does not encourage dereliction of owners' duty of building maintenance and management by seeking redevelopment of their buildings through the demand-led pilot scheme," said Mr Ma.

In order to sustain the demand-led redevelopment scheme, financial consideration will also be given in the project selection process.  Applications will go through a stringent screening and scoring process.  Selected projects will be included in the URA's 2016/17 Annual Business Plan for the approval of the Financial Secretary.

The selected and approved demand-led redevelopment project will be gazetted for implementation and freezing survey will be done on the same day.

Mr Ma cautioned that the continued implementation of a selected demand-led project is subject to the fulfillment of two conditions precedent, namely, (i) acceptance of URA's conditional offers and signing of Agreements for Sale and Purchase by owners of no less than 80% of undivided shares of each lot in the application within the specified offer period and; (ii) the Secretary for Development's authorisation of the project and no appeal is filed within the appeal period or if an appeal is filed, the dismissal of appeal, within one year of the offer.

Starting from today, pamphlets and application forms for the fourth round of demand-led redevelopment project, in both English and Chinese, will be available at the following locations:

All duly completed and signed application forms should be returned by hand to URA Headquarters at 26/F COSCO Tower, 183 Queen's Road Central, Hong Kong, by 5 pm on or before Wednesday, 9 September 2015.

The URA has commissioned the Senior Citizen Home Safety Association to provide an enquiry and assistance service to any person who is interested in applying for the fourth round demand-led redevelopment scheme.  The enquiry service hotline is 5582-2295.

(ENDS)