Urban Renewal in Hong Kong(Chapter 4)

This chapter of the research briefly examines and presents the history, background, projects, and redevelopments of urban renewal with the reference of Hong Kong.

Urban Renewal Authority on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

        In 2001, it was authorized by the Ordinance of the Urban Renewal authority URA holds the rights by acquiring the lands which are using by leasing of the government and the chief executives HKSAR has the power to appoint the board members of its. It has been defined actually as the agency of land development according to the operations of the self-financed. In the establishment of the following five years by the government the startup of the URA had been financed with a capital of HK$1billion.Moreover, the money is borrowed by the Monetary authority of the Hong Kong for supporting the projects of the redevelopment according to the financial approval of the financial secretary. The governmental bodies take the guarantee of its borrowings (URAO, Part Ⅳ, Sec11).

        The Legislative Council can authorize the Financial Secretary for awarding the guarantees to debt paying off and loans repayment. It also includes the premium and interest under the URA (URAO, PartⅣ, and Sec13).   In facts, all project's redevelopment and monopolies of URA are considered under the government control. For accumulating the fiscal surplus, URA had managed in 2015 the amount of HK$2.5 billion which is generated from the several projects of the redevelopment (CSFP, 2015). In the given table 1 during the time span of 2008-2013 URA had completed round about seven significant projects, and net profit had been generated from each project particularly in the first and second project named as a project of the Cherry Street it has gained the net earnings of 2.9 and 1.8 separately (URA, 2018).

        In 2008, URA purchased rights of these properties before the downtown of the economy. The great boom encountered by the Hong Kong's housing market and long-term pricing hikes has been experienced by those housing stocks which were redeveloped. The great benefits are made by the boom housing price of the land appreciation for URA and developers both (Zheng, Shen, Wang, & Hong, 2015).

Projects Undertaken by Urban Renewal Authority

Source: Urban Renewal Authority, 2018

4Rs Approach of Urban Renewal Authority

        The approach of the 4Rs considered as the holistic and comprehensive approach for carrying the renewal of the urban which is associated for that purpose which is set out in the fifth section of the (CAP563) according to the Revitalization, Redevelopment, Reservation of Heritage and Rehabilitation. On February 24, 2011, the strategy of the Urban Renewal authority had published for broader role of the URA. It can place the greater emphasis for the engagement of the community. For addressing the Hong Kong about the problems of the acute urban decay, URA must be committed for improving the residents living conditions in the tumbledown living areas. Firstly this method the people must adopt it according to the public participatory in the district based and the work of this approach is taken under the Rehabilitation and Redevelopment which is known is its core activities (Strippedpixel.com, 2013). It can use for trying its best to reserving the buildings with a value of the heritage as well as invigorated areas within the URA's project sites.  Furthermore, the best practices must be implemented by the URA concerning sustainable development as well as for building the city quality by using the appropriate greening, density, and local culture, land use planning revitalization, urban design and heritage preservation for the development (Yung, Conejos, & Chan, 2016).

Redevelopment on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

        It involves existing replacements of the dilapidated buildings according to the modern ones that must meet with the requirements and present standards; it also includes particular those buildings without the protection of the environment and efficiency of energy. It can improve infrastructure, probable comprehensive planning, provisions of environmental and traffic, additionally it includes the land spaced which are open at open public spaces, community facilities and greening (Beadle, 2001). The principal objective of the URA is to preserving the historical buildings for the outstanding value of the heritage, and it also involves the possible character for achieving the accurate balance between the preservation and redevelopment (Law, 2010). Meanwhile, the URA is established for concluding the 40 projects of reconstruction in which includes a scheme of 25ex-LDC. Approximately 18000 residents living condition has been improved by it, and it can provide an area of the 37000 square meters at open public spaces some of which having 55000 square meters for community facilities (Davis, 2012).

Rehabilitation on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

        It helps to slow down the urban decay pace which is used to offering the improvement of speed for living conditions of various people at situ. It also can assist in retaining the community network. Fabric incentives and technical assistance have not only provided by the URA in 2004, but the URA has also reached to an agreement with different banks for offering the interest-free loans to rehabilitating the work for the owners of ancient buildings which have aged according to the more than 20 years old. Despite the credits and incentives of the owners of the building which can also involve in the initiatives just like as the grants of the hardship and it includes risk insurance of the third party and its subsidies as well as consultancy fee of professionals (EUNSOO, 2016). The work of the renovation is covered by the grants and its internal walls, drainage piping, water supply, and public flushing, waterproofing work for roof-topping, the electrical renewal and the former glory fire buildings. The retaining are includes entertainment, creative cultural and for the enjoyment of the public as well as for commercial purposes (Ejinsight.com, 2017).

        The primary objective of the URA target is to preserve the historical buildings at least 57; it involves shophouses of the verandah types in which include 20 pre-war.  The URA has done the one extraordinary preservation projects which are known as the cluster of the five many shophouses which is included in the service installations. More than 40000 units related to a residential area are assisted by the URA till now from which 500 buildings are required for the undertaking of the work of rehabilitation (Scmp.com, 2018).  Furthermore, the collaboration of URA with Hong Kong society and the government launched a $1billion as the "Operation of the Building Bright" funds; it specific objective is to create more opportunities of the employment for the sectors of the construction and the building the safety also can be promoted by it. The owner of these subsidies is more than 1000 old building for carrying their works output (Scmp.com, 2018).

Reservation on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

        Adaptive reusing and living heritage are one of the significant policies of the auras. The objective of this policy is heritage restoring for the project of the Johnston Road in Wan Chai. The specialty restaurants are changing with old houses of shops successfully, and it was implemented after the long planning of renovation of the six years. The URA has arranged another project with the name of the plan of the blue house preservation. For the HKHS this preservation project is delegated by URA. In the Blue House cluster, the land is voluntarily acquired by the HKHS which has been submitted to the Government. Nowadays the group is known as the historic buildings; which includes under the Batch II of the Governments' partnership schemes for revitalizing the historic buildings (Basant Maheshwari, 2016).

Revitalization on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

        If the above-discussed 3Rs will be compared, then it would be suggested the URA, the revitalization concept is comparatively versatile for the tool of the Urban renewal regarding ‘surface' and ‘line.' Revitalization synergizes as well as unites all urban renewal effort in the area of action; it also can make the process of regeneration sustainable. By taking help from the departments of the Governments and various districts council, the several revitalizations have been implemented by the URA (Zheng, Shen, Wang, & Hong, 2015).

        Special Committee which is set by the government during 2008 for the Old Wan Chai Revitalization is disabled during 2012 February, to obtain the goal for the Old Wan Chai. The projects which are implemented below the special Committee involving the Wan Chai Heritage Trail designation for the lighting of the architectural trail. The supply of electricity which is engaging for the provisions of the hawker's stalls during the street of the Tai Yen along with the cross street for the implementation of the improvements of the roads by the helper for the redevelopments well as rehabilitation for the target area includes Approximately 36,000Sq. /m URA is created for the facilities of the community with the purpose of the greener areas.  There is open space near the Western markets which is turned and the beautified for the multipurpose for the town square; to become the new hub for the community of the Sheung Wan Fong (Ejinsight.com, 2017).

References on an evaluation of the effectiveness of urban renewal under Urban Renewal Authority

Beadle, Lynn. 2001. Tall Buildings and Urban Habitat. CRC Press, .

CSFP. 2015. Consolidated Statement of Financial Position. https://www.ura.org.hk/f/publication/2016/19_consolidated_statement_of_financial_position.pdf.

Davis, Jamaal. 2012. 5 Reasons Why Urban Renewal is So Important to the City of Richmond, Virginia. October 12. https://theglobalgrid.org/5-reasons-why-urban-renewal-is-so-important-to-the-city-of-richmond-virginia/.

Edward, S. H. 2014. Urban Renewal – a Case Study in Hong Kong. FIG Congress 2014 Engaging the Challenges – Enhancing the Relevance Kuala Lumpur, Malaysia.

Julie Clark, Nicholas Wise. 2018. Urban Renewal, Community and Participation: Theory, Policy and Practice. Springer.

Kwun Tong Vision. 2006. Redevelopment of Kwun Tong: Summary Report. http://www.ats.edu.hk/kklau/0708CE/07CEPark/KwunTong/final_report_latest.pdf.

Scmp.com. 2018. Future Hong Kong leaders may learn the ropes in Kwun Tong as site eyed for civil service college. September 25. https://www.scmp.com/news/hong-kong/politics/article/2165522/future-hong-kong-leaders-may-learn-ropes-kwun-tong-site-eyed.

—. 2018. Kwun Tong residential site attracts 25 bids despite concerns over infrastructure capacity. January 19. https://www.scmp.com/property/hong-kong-china/article/2129737/kwun-tong-residential-site-attracts-25-bids-despite.

Sino Group. n.d. Our Community. https://www.sino.com/en-US/Home#/ourCommunity.

Strippedpixel.com. 2013. Kwun Tong: Changing for the better? October 20. http://www.strippedpixel.com/kwun-tong-redevelopment/.

URA Press Release. 2007. Kwun Tong Town Centre Redevelopment Planning and Design: Community Choice. April 23. https://www.ura.org.hk/tc/media/press-release/20070423.

URA. 2018. Urban Renewal Authority. https://www.ura.org.hk/f/publication/2001/04e1108087_urban.pdf.

URAO. 2001. Cap. 563 URBAN RENEWAL AUTHORITY ORDINANCE. May 1. https://www.elegislation.gov.hk/hk/cap563.

Urban Renewal Authority. 2018. Explore Our Projects. https://www.ura.org.hk/en/project/redevelopment.