Plans to revitalise Central Hong Kong to the tune of US$3.4b

"Plans to revitalise Central Hong Kong to the tune of US$3.4b | AboutHK.Com - More Information About HK"

Channel NewsAsia's Hong Kong Bureau Chief Roland Lim Hong Kong plans to revitalise its financial district, Central, at a cost of more than US$3.4 billion. Historic buildings will be preserved, and restraints put on development. There will also be fewer buildings along the waterfront. Central Hong Kong is always congested, and there is also the constant din of construction - these are some of the pet-peeves of workers in the city. "I live in the countryside. I work in Central, but I don't want to stay in Central after work, it's too noisy," said one Hong Kong resident. So, to improve the quality of life in Central, the government is foregoing land revenues for its coffers. The former Central wet-market could have been worth up to US$1 billion in the open market, but it is being taken off the sale list. Instead, there are plans to turn the Bauhaus-styled building into an urban oasis, with rooftop greenery and floor space reserved for rest and leisure activities. "The Central market preservation is not so much justified on heritage, it is justified on urban planning, on environmental grounds, on providing a breathing space for a very congested area in the central business district," said Hong Kong Secretary for Development Carrie Lam. The 90-year-old Central Police Station, one of the few remaining reminders of colonial rule, is to be transformed into a performing arts venue and gallery. The nearby former police married quarters, once the home of Hong Kong leader Donald Tsang, is also earmarked as creative and cultural centre. Density around Hong Kong's famous waterfront at Central - currently undergoing development - will also be restricted to create more public space and greenery for arts and entertainment. The initiative comes on the back of Chief Executive Donald Tsang's policy address to create a more sustainable development in Hong Kong. Many have been calling for a much-needed breath of fresh air and greenery to city-living. There are plans also to convert more than 1,000 old industrial buildings and warehouses - remnants of Hong Kong's manufacturing industry in the 1960s and 1970s. They will be redeveloped to support knowledge-based industries like info-tech labs and recording or art studios. - CNA /ls