16
WEDNESDAY, JANUARY 13, 1988
LOAN APPROVED TO REDEVELOP 'SIX STREETS'
A APPROVED
LOAN OF TO THE HONG KONG COST OF THE
(WEDNESDAY) THE FINANCE COMMITTEE TODAY $150 MILLION FROM THE DEVELOPMENT LOAN FUND (DLF) HOUSING SOCIETY (HKHS) TO MEET PART OF THE CONSTRUCTION REDEVELOPMENT SCHEME OF THE YAU MA TEI "SIX STREETS" AREA.
MEMBERS
WERE
TOLD
THAT
IN
SEPTEMBER
1985, THE EXECUTIVE COUNCIL ADVISED AND THE GOVERNOR ORDERED THAT HKHS'S PROPOSAL
STREETS" AREA URBAN IMPROVEMENT SCHEME IN THE "SIX
THE FINANCE
PRINCIPLE,
SUBJECT
TO
APPROVAL
$125 MILLION LOAN FROM THE DLF.
BY
HOWEVER, DUE MAINLY TO PRICE FLUCTUATIONS
FOR AN IN BE APPROVED COMMITTEE OF A
SINCE 1985 AND то A PUBLIC THE ADDITION OF A REQUIREMENT FOR HKHS TO PROVIDE AND FUND
MILLION FROM THE OPEN SPACE, HKHS HAD APPLIED FOR A LOAN OF $150 GOVERNMENT AS "START-UP" FINANCE IN ORDER TO MAKE THE PROJECT THIS IS $25 MILLION MORE THAN THE EARLIER ESTIMATE OF $125 MILLION.
VIABLE.
WHICH WILL MILLION AS AT
THE CONSTRUCTION COST OF THE REDEVELOPMENT SCHEME, BE IMPLEMENTED IN TWO PHASES, IS ESTIMATED TO BE $353
SEPTEMBER 1987.
IN ORDER
то
BUILDINGS WITHIN THE AREA, GOVERNMENT OR TO RE RESUMED, WILL BE DEMOLISHED.
FACILITATE
EITHER UNDER
122 TENEMENT THE REDEVELOPMENT,
DIRECT MANAGEMENT BY
THE
WHICH IS ESTIMATED
ΤΟ COMPLETE
WILL 1993, IN OF WHICH WILL
THE SCHEME, PROVIDE 637 RENTAL FLATS AND 896 FLATS FOR SALE, SOME BE OFFERED FOR RENT OR PURCHASE TO THE EXISTING OCCUPIERS.
IN
ADDITION,
56 RENTAL PLATS
DESIGNED SPECIALLY
FOR THE
ELDERLY WILL BE PROVIDED.
SPACE AND GOVERNMENT, THE SCHEME ALSO INCLUDES A PUBLIC OPEN INSTITUTION AND COMMUNITY FACILITIES SUCH AS A CHILD AND YOUTH CENTRE, AND A CENTRE FOR THE MENTALLY HANDICAPPED, A NURSERY, A KINDERGARTEN,
BASEMENT CARPARK A DAY CARE CENTRE FOR THE ELDERLY, IN ADDITION TO A AND COMMERCIAL FACILITIES.
THE PLAN WAS APPROVED BY THE TOWN PLANNING BOARD IN MAY 1987.
/17
No comments yet.
Private notes are available after approval.