The Urban Renewal Authority (URA) tomorrow (Friday) will invite interested parties to submit Expressions of Interest for the joint development of the Third Street/Yu Lok Lane/Centre Street project in Sai Ying Pun.

The project site is about 2,150 square metres and upon completion is expected to deliver a maximum gross floor area of about 16,460 square metres mainly for residential use, together with the provision of public open space of about 1,100 square metres. It is expected that this development will generate about 270 residential units. URA plans to provide more small-size units in this project which will be smaller than 46.5 square metres, i.e. about 500 square feet. 

There is also a plan to preserve a pair of existing tenement buildings for adaptive re-use, and implement a theme to re-captivate the laneway character by integrating with those preserved elements of existing tenement buildings in the design.

Parties interested in the development of the project are requested to indicate their development experience and financial capability to undertake the development in accordance with the requirements and criteria set by URA.

Submissions should be made to the URA Headquarters at 10/F, Low Block, Grand Millennium Plaza, 181 Queen¡¦s Road Central, Central, Hong Kong by 5 pm on 30 July 2010 (Friday).

A tender review panel under the URA Board will shortlist qualified companies and invite them to submit tenders for the joint development later. 

(ENDS)