Page 28 - Urban Renewal Authority 2023-24 Annual Report

OPERATING REVIEW

Strategic Studies for Effective Urban Renewal
Based on the holistic “district-based” approach, the URA has forged ahead with the recommendations from the
District Study for Yau Ma Tei and Mong Kok (YMDS) and the New Strategy on Building Rehabilitation Study
(NSBR) while two more district studies were carried out in the past year. To realise the “planning-led” approach
for more comprehensive restructuring and replanning of old urban areas, preliminary project feasibility studies
were conducted for selected old urban areas to build up the URA’s project reserves.

Yau Mong District Study (YMDS)

YMDS was completed in 2021, providing findings and recommendations to overcome existing challenges in
urban renewal. Riding on the findings from YMDS, URA has been exploring appropriate initiatives to facilitate
private market participation in urban renewal. Over the past year, the URA has made substantial progress in
implementing the proposals outlined in the Master Urban Renewal Concept Plan to unlock development
potential. The URA has also been working with the Government to implement the planning tools identified in
YMDS, with the aim of encouraging private market participation and implementing urban renewal more
effectively. The key achievements are summarised below:

Implementation of the First Nodal Development under YMDS
The first project under YMDS, namely Sai Yee Street/Flower Market Road (YTM-013), commenced in March 2024.
It aims to implement the initial phase of the Nullah Road Urban Waterway Development Node (Nullah Node) by
replanning and restructuring land use under a flexible mixed-use development model. With the construction of
an “Urban Waterway” and a Waterway Park as a new “blue-green feature”, the project targets to enhance the
environment of the Flower Market area and support its future development by adopting an integrated approach
to urban renewal. It also contributes to the transformation of Mong Kok East into an “Exuberant Commercial
District” enriched with social, leisure and recreational and shopping attractions. (More details on YTM-013
Project as noted on page 33 and 34 under Redevelopment.)

Artist Impression
According to the proposed planning of the Sai Yee Street/Flower Market Road Project, the on-street portion of the multi-purpose complex
facing Sai Yee Street will be set back to allow more product display space for the shops and enhance the pedestrian environment.

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