PEONY HOUSE
ARCHITECT: WONG TING KI, B. SC. (C.E.)
In recent years the development of
Amongst the best of the former class The building is of a very attractive large buildings either for commercial of construction for lower income level design, simple yet not stark, with the or residential purposes has been great- groups, will be Peony House, which horizontal lines of the balcony strong- ly stimulated by the fact that there is a low cost housing project situated ly emphasized to produce a very seems to be a very active demand for at the corner of Tai Kok Tsiu Road pleasant effect. It will be fourteen the purchase of individual units in and Fu Kwai Street, Mongkok, and
these buildings. It has therefore been is one of the projects sponsored by storeys high but the ground floor will have a mezzanine so that each shop possible for builders to proceed with the Hongkong & Kowloon Tenants have a mezzanine so that each shop projects with the knowledge that the Association. This building will house can have living quarters above it. sale of the building can be effected about 5,000 people when completed, The shops which front on three streets, piecemeal and that they can obtain a in small units each containing as living are also for sale and will form the more than reasonable profit on an quarters one large room, with a small nucleus of the district shopping centre investment without tying up their kitchen and a lavatory, in which a as well finances for a longer period than it takes to complete the construction work. This state of affairs applies to
as serve the tenants of the
building itself.
The Tai Kok Tsui district in which
shower has been installed. Each flat will have plenty of light and air as the whole front of the room will com- this project is being erected has been every class of client from those who prise a full length window opening on the scene of a great deal of activity to a fair sized balcony. These units are interested in small Chinese type are priced as low as $5,500 each and centering around this type of develop- flats which are sold from about $5,000 arrangements can be made to pay off ment. A large area of ground was upwards to the highest class of build- the capital sum by instalments over a recently sold by the Shell Company, ing in which apartments fetch as high period of one or two years bringing of which we believe this project oc- as $100,000 each. In commercial them within the means of a very wide cupies a portion, and will, as far as buildings the same principle applies, range of clientele with a small amount we can ascertain, be almost entirely and quite a number are now being of savings which they can invest to developed for these low-cost housing
good advantage.
built.
59
schemes.