URA

CORPORATE SUSTAINABILITY 38 With the continuous evolution of urban renewal in terms of public aspirations, the diversified needs for our urban growth, and the challenges and opportunities arising from urban decay, four related planning objectives, namely high-density environment, low-carbon neighbourhood, smart living and walkability, are now part and parcel of our core business strategies to optimise the benefits to our city for us and our future generations. In this section, we will discuss our sustainability performance from five domains: Economy, Environment, Society, Process and People. Each will be demonstrated through our core businesses, our various initiatives, and our internal operation. Foster our Economy The URA endeavours to revitalise the urban neighbourhood through strengthening the inclusive economic, social and environmental fabrics for the benefit of urban communities. Urban renewal brings space for business and job opportunities, which results in a re-composition of the social landscape. Preserving Local Economic Activities To maintain economic vibrancy, the URA has leased out all of the acquired units at the Prince Edward Road West revitalisation project after completion of renovation of the project. The ground floors are mainly leased to flower shops to retain local characteristics, while the upper floors were leased to various tenants for commercial use related to art, culture and community services. The whole block of No. 204 Prince Edward Road West is leased to the Hong Kong Council of Social Services (HKCSS) for use as a social enterprise hub named ‘GoodPoint’. The overall physical environment has been improved and cultivated as a place where old meets new. The URA has also pledged to adopt tactical measures along with the implementation of the H18 Peel Street/ Graham Street project in order to keep the nearby century-old market intact and enhance its vibrancy. The revitalised Graham Market with the new market block at Site B of H18 has become an iconic spot for members of the community to purchase a wide variety of their daily needs. The new Market Block at Graham Market becomes an iconic spot for the community. The flower shops at Prince Edward Road West revitalisation project retain local characteristics. Facilitating a Thriving Social Enterprise During 2017/18, the URA continued to render more properties for concessionary tenancy in both our acquired properties and dedicated preserved historic buildings to non-governmental organisations (NGOs) and social enterprises (SEs), e.g. the Association of the Hong Kong Central and Western District Limited, Mighty Oaks, Hong Kong Federation of Youth Groups, Light Be, and International Social Service, Social Venture Hong Kong, and New Life Rehabilitation.