URA to issue acquisition offers to Sung Hing Lane/Kwai Heung Street project
The Urban Renewal Authority (URA) will soon issue acquisition offers to property owners affected by the Sung Hing Lane/Kwai Heung Street redevelopment project (the Project) in the Central and Western District. Eligible owner-occupiers of domestic properties of the Project will be offered $23,568 per square foot of saleable area which is the unit rate of a notional replacement flat of seven years old situated in the same locality (“Notional Unit Rate”).
The Notional Unit Rate is approved by the Land, Rehousing and Compensation Committee (LRCC) of the URA Board today (Monday). In line with the established mechanism, the URA appointed seven independent consultancy firms by open ballot to assess the Notional Unit Rate for the Project. The whole process is transparent and open.
The URA’s prevailing acquisition policy for both domestic and non-domestic property interests is applicable to this project. In addition, eligible domestic owner-occupiers of the Project will have a choice of an in-situ flat-for-flat (FFF) unit in the future new development to be constructed on the project site, or FFF unit at the URA’s Kai Tak Development. Since FFF units at Kai Tak Development have been offered to the eligible domestic owner-occupiers of three earlier projects in Kowloon City in January this year, who will be invited to attend the flat selection scheduled for 20 June 2018, FFF offers of the in-situ FFF units and the remaining units at Kai Tak Development will be made to eligible domestic owner-occupiers of the Project in late June 2018.
The Project affects a total of 101 property interests. All property owners will have 60 days to consider the URA’s offers.
After completion of the property acquisition, the URA will make ex-gratia allowance or rehousing arrangement for the domestic tenants concerned, if eligible.
The URA also introduced the Local Shop Arrangement (“LSA”) for existing non-domestic owner-operators and tenant-operators personally operating the dried seafood and associated businesses in ground floor shops of the Project. Under the LSA, eligible operators, after meeting specified criteria, who are interested in continuing their dried seafood and associated businesses in the future development will be offered priority to lease shop premises in the future development of the Project. To facilitate their continuation of the dried seafood and associated businesses before completion of the future development, an interim relocation option to lease retail shops at the Peel Street/Graham Street Development Scheme (Site B) is available to the participating eligible operators for consideration.
The URA will organise briefings for the affected owners, residents and shop operators to explain to them the acquisition, ex-gratia allowance and rehousing arrangements. An urban renewal social service team staffed by professional social workers of the Christian Family Service Centre (Tel.: 2110 5861), which has been appointed by the Urban Renewal Fund, will provide assistance to the owners and residents in need.
The Project, which was commenced in July 2017, was authorised by the Secretary for Development and gazetted on 23 March 2018. It covers a total area of about 1,120 square metres, involving a total of 14 street numbers of buildings. Subject to change, the URA’s current proposal is to redevelop the Project to provide about 8,300 square metres of residential floor area and some 400 square metres of commercial/retail floor area. It is tentatively scheduled for completion by 2026/2027.
(ENDS)