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MONDAY, JULY 12, 1976
LAND GRANT FOR MTR'S KOWLOON DEPOT
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THE GOVERNMENT IS TO MAKE A GRANT OF SOME 1.72 MILLION SQUARE FEET (40 ACRES) OF LAND IN KOWLOON BAY TO THE MASS TRANSIT RAILWAY CORPORATION.
THE LAND IS TO BE USED BY THE MTRC FOR CONSTRUCTION OF ITS MAIN KOWLOON DEPOT WHICH WILL INCLUDE WORKSHOP AND MAINTENANCE AREAS.
A HOUSING ESTATE WILL ALSO BE BUILT ABOVE THE DEPOT PODIUM. TOGETHER WITH THIS ESTATE THERE WILL BE A COMMERCIAL COMPLEX, COMMUNITY FACILITIES AND OPEN SPACE FOR THE RESIDENTS. FOOTBRIDGES WILL PROVIDE ACCESS TO THE SURROUNDING MAIN ROADS TO THE ADJOINING RESIDENTIAL AND INDUSTRIAL AREAS.
THE HOUSING ESTATE WILL COMPRISE SOME THREE MILLION SQUARE FEET GROSS OF SPACE WHICH WILL BE DEVELOPED INTO 5,000 FLATS EACH WITH A NET LIVING AREA IN THE RANGE OF 500 SQUARE FEET.
THE ESTATE IS EXPECTED TO HOUSE 25,000 PEOPLE WHEN FULLY DEVELOPED.
THE FLATS IN THE ESTATE WILL BE SOLD TO THE PUBLIC WHILE THE COMMERCIAL PREMISES WILL BE RENTED OUT. THE MASS TRANSIT RAILWAY CORPORATION WILL BE FORMING ITS OWN PROPERTY DEVELOPMENT UNIT FOR THE CONTROL AND MANAGEMENT OF THE ESTATE TO ENSURE THAT PROPER STANDARDS ARE MAINTAINED.
THE MONEY FROM THE SALE OF THE FLATS AND FROM THE LEASING OF THE COMMERCIAL PREMISES WOULD BE EMPLOYED BY THE CORPORATION EITHER IN FURTHER DEVELOPMENT OF THE RAILWAY OR TO HELP MEET ITS DEBT SERVICE CHARGES AND OPERATING EXPENSES.
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