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URA issues acquisition offers to Queen’s Road West/ In Ku Lane Development Scheme

The Urban Renewal Authority (URA) today issued acquisition offers to property owners affected by the Queen’s Road West/ In Ku Lane Development Scheme (the Project) in the Central and Western District.  Eligible owner-occupiers of domestic properties of the Project will be offered $24,051 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 was approved by the Land, Rehousing and Compensation Committee (LRCC) of the URA Board on 30 July 2019.  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 redevelopment project.  The Project affects a total of about 70 property interests.  All property owners will have 60 days to consider the URA’s offers which was issued today.

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 an FFF unit at the URA’s Kai Tak Development Project.

After completion of the property acquisition, the URA will make ex-gratia allowance for the eligible tenants and rehousing arrangement for the eligible domestic tenants.

The URA will organise briefings for the affected owners, residents and shop operators to explain to them the acquisition, ex-gratia allowance and rehousing principles and arrangements.  An urban renewal social service team staffed by professional social workers of the Christian Family Service Centre (Tel.: 3580 8841), 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 March 2018, was approved by the Chief Executive in Council on 9 July 2019.   The Project occupies a gross site area of about 2,040 square metres, covering a soccer pitch which is part of the Li Sing Street Playground and is currently enclosed by the surrounding buildings, the In Ku Lane Refuse Collection Point and a public toilet.  The key planning intention of the Project is to rationalise the land uses and layout within the area by re-planning the public open space which will be directly fronting Queen’s Road West to improve the connectivity, accessibility and comfort of the users.  The existing In Ku Lane Refuse Collection Point and public toilet, which will be re-provisioned in-situ and integrated within the future development, will be upgraded with better serviceability. Subject to the future detailed design, the URA’s current proposal is to redevelop the site to provide about 9,690 square metres of residential floor area and some 740 square metres of commercial floor area, including 200 square metres of gross floor area reserved for elderly facilities. The Project is targeted for completion by 2028/ 2029.