Page 57 - Urban Renewal Authority 2023-24 Annual Report

Building rehabilitation/ Chairman’s Statement
preventive maintenance
measures Prince Edward Road West
Yuen Po Street
URA Prince Edward Road West/
Yuen Nagi Street Preservation &
Revitalisation Project Managing Director’s Statement

Site A5
Site A4

Site A3

Mong Kok Stadium Flower Market Road
Artist Impression
Leveraging renewal opportunities, the back lane linking Flower Market Road and Yuen Ngai Street will be transformed into the “Third Street” Operating Review
of the Flower Market through revitalisation and place-making initiatives. URA will also promote building rehabilitation and preventive
maintenance to nearby building owners for the purpose of blending old and new.

Sai Yee Street/Flower Market Road Development Scheme (YTM-013)
Commenced in March 2024, Sai Yee Street/Flower Market Road Development Scheme (YTM-013) (the Scheme)
is one of the exemplary models of the URA’s sustainable approach to urban planning under the above five
Sustainability Pillars. The mixed-use development is the first urban renewal project in Yau Tsim Mong District
following the completion of Yau Mong District Study (YMDS), materialising the Development Node of “Mong
Kok East – Urban Waterway” as proposed in YMDS. Corporate Sustainability

Located near the Flower Market precinct in Mong Kok East, the Scheme endeavours to regenerate the area
through restructuring and opening up the existing segregated and piecemeal open spaces into a vibrant
Waterway Park, serving as a “connector” to the various facilities in the wider area, including the adjoining Mong
Kok Stadium and Flower Market precinct. It will become an iconic and sizeable green hub with blue-green
feature for public leisure, reviving the previous spatial setting of the nullah through the construction of an Urban
Waterway to promote a “water-friendly culture” and rejuvenate the district. To enhance accessibility and
promote the “Park n’ Walk” concept, an underground public vehicle park, pedestrian footbridge, and subway
connections are proposed in the Scheme.

Complementing the long-established local character of the Flower Market precinct and the initiative to develop a
“flower viewing hotspot”, the Waterway Park proposed in the Scheme will facilitate flower viewing activities
through cohesive landscape design and place-making opportunities, which would reinforce the local character of Management Discussion and Analysis
the Flower Market. Capitalising on the Scheme’s potential, separate revitalisation initiatives are proposed to
transform the back lanes in the vicinity into an attractive and walkable pedestrian route in the area. In addition, the
Scheme will provide around 20,000 square metres of non-domestic Gross Floor Area for Government, Institution
or Community (G/IC) uses, subject to confirmation of funding and operational arrangement from the relevant
Government bureaux/departments. The mixed-use development within the Scheme encompasses sports, leisure,
recreation, and cultural facilities that span across multiple realms, fostering a vibrant and inclusive community.
Apart from following the mandatory consultation procedures under the Town Planning Ordinance and Urban
Renewal Authority Ordinance, the URA conducted extensive engagement, briefing sessions, and consultations
with stakeholders to gather opinions on the planning and design of the Scheme. Before the commencement of
the Scheme, two opinion surveys targeting florist operators and customers were conducted in January 2024 to
gather insights and enhance the area’s character. The two surveys helped identify the urban renewal needs of Projects at a Glance
the area and the potential social impacts on the stakeholders, which are pivotal to the formulation of necessary
mitigation measures. Ongoing consultations are being held with affected business operators to understand their
concerns, including possible transitional arrangements and decanting options.
The Scheme also aims to optimise land resources by adopting a linked site approach, leveraging the planning
benefits of the Transfer of Plot Ratio (“TPR”) proposed under YMDS. By consolidating the small and isolated sites
with limited individual redevelopment potential into a more strategic, sizeable, and accessible location, the
Scheme strives to utilise land resources effectively and attain economic sustainability. The Scheme will also make
available new retail space to support activities in the Flower Market, thereby enhancing the area’s vibrancy and Corporate Governance
contributing to the local economy.

URA ANNUAL REPORT 2023-24 55