Page 29 - Urban Renewal Authority 2023-24 Annual Report

Facilitating Private Market Participation Chairman’s Statement
With a view to incentivising greater private market participation to catch up with the pace of urban decay, the
URA has been working closely with the Government to take forward Outline Zoning Plan amendments and
introduce a suite of new planning tools to unleash development potential in the Yau Mong districts.

Progress of Amending Outline Zoning Plans (OZPs)
The URA supported the Government to initiate amendments to the OZPs of Mong Kok and Yau Ma Tei to permit Managing Director’s Statement
more flexible interchangeability between domestic and non-domestic plot ratios or to allow more design
flexibility for mixed developments along character streets in selected areas, in addition to increasing the plot
ratio for the Nathan Road commercial spine and relaxing building height restrictions. The Chief Executive in
Council (CE-in-C) approved the Mong Kok OZP in June 2023. Similar amendments to Yau Ma Tei OZP were
submitted to the Town Planning Board (TPB) in June 2023 and approval of the CE-in-C was obtained in July
2024.

Application of New Planning Tools Operating Review
To unleash development potential of small and isolated sites to allow restructuring and replanning in Yau Ma Tei
and Mong Kok, new TPB Guidelines were promulgated in July 2023 to pilot Transfer of Plot Ratio (TPR) through
processing planning applications. TPR allows the transfer of development rights from sites with limited
redevelopment potential to sites with intended growth in intensity, enabling an increase in buildable and
saleable areas, thereby encouraging private participation in urban renewal with higher financial returns. A review
of these Guidelines will be conducted in 2025 by soliciting views from practitioners/professional institutions.

YMDS has identified small street blocks for amalgamation into more cohesive and sizeable redevelopment sites,
along with under-utilised road space for pedestrian and open space use after road closure and traffic route re- Corporate Sustainability
diversion, which are known as Street Consolidation Areas (SCAs). As announced in the 2023 Policy Address, the
URA has included redevelopment projects in Yau Ma Tei South utilising SCA concept in the approved 23rd
Corporate Plan (CP) for future implementation.

YMDS has also proposed to explore Gross Floor Area concession as an incentive to encourage innovative design
to achieve greater planning gains and improve the overall built environment. A consultancy study was
commissioned to provide preliminary findings to the Administration for consideration within 2024.

Renewal of Public Facilities: the Nano-Parks System
One of the proposed initiatives under YMDS is the Nano-Parks system, which aims to reinvent the open space
network through a collaborative community effort focused on branding and place-making. By connecting and Management Discussion and Analysis
revitalising six small-sized, scattered parks in the densely urban Shantung Street precinct, the initiative will create
greater design impacts and provide opportunities for community enjoyment. The pilot implementation is
currently in progress with support from the Leisure and Cultural Services Department (LCSD). Distinctive features
of the Mong Kok district such as character streets, diverse cultures and the vibrant market environment will be
incorporated into the design. By unifying the style, colour scheme and other creative components of the park
spaces, the URA aims to provide a refreshing and coherent experience for the general public.
Following the completion of the community engagement programmes in September 2022, the first batch of
schematic design covering two of the nano-parks was approved by relevant Government departments with works
targeted for completion in 2025/26. The second batch of the schematic design for the remaining four nano-
parks, which was commenced in 2023, will be submitted to Government departments for approval. Projects at a Glance

URA ANNUAL REPORT 2023-24 27 Corporate Governance