Hang Lung waits for nod on Sha Tin plan
Hang Lung Group is seeking government approval for plans to convert about 110,000 square feet of open space in Sha Tin into residential use.
Surveyors said the plan was aimed at meeting growing demand for housing sparked by the proposed Ma On Shan railway line, due to be completed in 2004.
The site, formerly occupied by a religious group, is next to the proposed Che Kung Temple Station of Ma On Shan line.
In the latest proposal, the developer would reserve part of the site for park use to incorporate more green features in the development, sources said. The remaining area would be developed into two apartment blocks with about 500 to 600 flats.
The site could provide an estimated residential floor area of 350,000 sq ft with a proposed plot ratio of three to 3.5 times. The maximum plot ratio for new residential development in the area now is five times.
The proposed residential redevelopment is a joint venture of Hang Lung and Sun Hung Kai Properties. The project was discussed by the Town Planning Board late last year but a decision was deferred for more details.
Hang Lung Development managing director Nelson Yuen had said the project needed settlement of some issues arising from land lease conditions.
The developers acquired the land before 1997 and sought various redevelopment options, which were all rejected.
Should the latest plan be approved by the Government, the developers would need to pay land premium for the change of land use and its increased land values.
The latest plan will be discussed by the Town Planning Board next month.
Other developers have been exploring opportunities for expanding land banks in Sha Tin in recent years.
Henderson Land Development chairman Lee Shau-kee won Town Planning Board approval last year to convert part of his privately owned Union Hospital site in Sha Tin for residential development. The firm can build 220 units on the 89,000 sq ft site, now used for parking.
Sun Hung Kai Properties is working on land premium negotiations with the Lands Department for its proposed Pristine Villa phase three residential development on Tung Lo Wan Hill in Sha Tin.
Meanwhile, Hang Lung is expected to raise objections to a height restriction proposal imposed on its residential redevelopment project in Shekkipmei.
It had approval earlier last year to turn the Salvation Army Tai Hang Tung Social Centre into a 17-storey residential block.
But the height of the building would be reduced following the latest height restrictions for the area proposed by the Planning Department late last year.
The Town Planning Board will discuss the objections to the building height restrictions in Shekkipmei area early next month.
