Page 42 - Urban Renewal Authority 2023-24 Annual Report

OPERATING REVIEW

Nga Tsin Wai Village (K1)
K1 is being implemented as a redevelopment-cum-preservation project to preserve the relics found in Nga Tsin
Wai Village. A conservation park will be provided at the centre of the site to showcase the preserved
archaeological elements. The land grant was executed by the URA and LandsD in June 2023. The archaeological
rescue excavation works commenced in October 2023 and were expected to complete in 2025.

Artist Impression
The “Interpretation Corridor” inside the Conservation Park will feature the watch tower foundation remains,
display panels and interactive technologies to enhance the public’s understanding of the history and evolution
of Nga Tsin Wai Village.

Civil Servants’ Co-operative Building Society (CBS) Projects
Two pilot projects to redevelop CBS buildings, namely Shing Tak Street/Ma Tau Chung Road Project (CBS-1:KC)
and Kau Pui Lung Road/Chi Kiang Street Project (CBS-2:KC), were commenced in May 2020. Site clearance for
CBS-1:KC was completed in March 2023 and the JV tender was awarded in December 2023. Demolition works
were completed in March 2024 and the JV developer has taken over the site to commence the next phase of
works.

For CBS-2:KC, the URA submitted a planning proposal with revised DSP to include the provision of 950 Starter
Homes units (among the 2,300 flat units produced within the project) to support the Government’s efforts in
providing more subsidised sales flats. The project will also provide at least 400 square metres of at-grade open
space for public use, an underground public vehicle park, as well as G/IC facilities to serve the community.
CE-in-C approved the revised DSP in February 2024.

There were a total of nine undissolved CBSs at the time of the CBS-2:KC project commencement. The URA has
offered free legal and administrative support to facilitate the dissolution of these undissolved CBSs. As of June
2024, seven of the nine CBSs have been dissolved while a cancellation order for one CBS was issued. The
remaining CBS’s application for dissolution is being processed by the Government.

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