LOFTER Group has been actively exploring a variety of opportunities for developing urban renewal projects across core districts of Hong Kong, with key focus on Grade A Commercial and Luxury Residential Projects.
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A district-based approach is also adopted in the URA’s projects for better planning and social benefits while improving the living environment of residents. An example is the holistic approach taken in planning and implementing six redevelopment projects in Kowloon City, with a view to rejuvenating the area with a more effective circulation network and better accessibility, as well as maintaining the street vibrancy.
Among other things, the Housing Society will follow the URA's existing practice of providing professional service with social service teams to take care of the needs of the aged residents and others who may be in need of special care and help as a result of the implementation of a project.
Urban renewal (also called urban regeneration in the United Kingdom and urban redevelopment in the United States[1]) is a program of land redevelopment often used to address urban decay in cities. Urban renewal involves the clearing out of blighted areas in inner cities to clear out slums and create opportunities for higher class housing, businesses, and other developments.
Redevelopment of contaminated sites entails various challenges, however, and may cause continued environmental and health consequences if contamination risks are not properly managed or remediated. This report provides the results of an expert consultation on redeveloping contaminated sites for new urban functions, aiming to review the health and environmental impacts of conversion and redevelopment and to identify sound practices to support effective redevelopment while considering health and well-being.
However, each landowner can also sell all of their property rights to developers. The “surplus” floor area permitted by the municipal government is then sold to cover the costs of the new development and public facilities. The figure below illustrates this hypothetical situation, and the table summarizes the contributions and resulting benefits of each of the stakeholders in this process.
Redevelopment is one of the URA’s core businesses. Through comprehensive planning, redevelopment improves the built environment and infrastructure in old urban districts while providing more greening, public open space and community facilities. Dilapidated buildings are redeveloped into new buildings of modern standard, environmentally-friendly and smart design.