Mong Kok has changed the width and height limit
As the commercial and residential buildings in Mong Kok district are being built, the Planning Department has earlier proposed relaxing the commercial areas on both sides of Nathan Road and relocating the Sai Yi Street WSD to commercial purposes. It is estimated that the land in the area can be upgraded. Development value and reconstruction potential.
Sai Lau Street Water Supplies Department
There is not much commercial supply in the urban areas. In recent years, the Government has deliberately vacated the Water Supplies Department of Sai Yee Street and the FEHD office in Mong Kok for redevelopment and commercial development. At the beginning of this year, three development proposals were proposed. After discussion by the Town Planning Board, With a 12-fold increase in plot ratio, three buildings will be constructed, including two 4- to six-storey malls and a 68-storey landmark-type commercial building. The height limit of the building will be 320 meters above the horizontal standard (same as below). The floor involves about 1.518 million square feet.
To tie in with the development of the second phase of the Sai Yee Street redevelopment project, the Planning Department proposes to amend the “Mong Kok Outline Zoning Plan" to rezone the sites of the WSD, FEHD and adjacent parking lots for commercial purpose (4). The building interval is 32. Meters, with the consent of the Town Planning Board, will conduct other consultation procedures such as public consultation during the year.
Former Mongkok Market Area To Redevelop Commercial Building
It is understood that the government plans to move the existing WSD and FEHD offices from 2020 to 2021 to free up land for development. It is estimated that the land will be included in the land sales table as soon as 2021 to launch the market. Based on a comprehensive industry valuation, the site is adjacent to Mong Kok East Station and can be used as a landmark building with a valuation of about $24.3 billion and a land price of about $16,000 per square foot.
Apart from the second phase of the redevelopment of the laundry, the former Mong Kok Market site, which covers an area of about 13,000 square feet, is also intended to be redeveloped into a commercial building. It is expected to be used for general purposes such as office, retail or hotel. The maximum building capacity is about 117,000. Square feet. Together with the former Trade and Industry Department building project won by the exhibition (00823), it has been developed into the Ginza-style commercial building T.O.P. It is estimated that more than 1.9 million square feet of new commercial floor area can be provided in the area.
On the other hand, Nathan Road is one of the heart of the commercial and retail activities in the district. The Planning Department has also proposed to cover commercial and other commercial uses in the district. The height limit of the building is 110 metres and the vicinity of Prince Edward and Mong Kok MTR Station. For commercial use, the high limit can be relaxed to 130 meters, further providing the development potential and value of the property. It is expected to benefit the owners of the commercial project and promote the redevelopment of the project in the district.