Govt to table bill next year to spur redevelopment
The government said on Wednesday that it's looking to table a bill to the Legislative Council in the latter half of next year to lower the triggering threshold for compulsory land sales for redevelopment.  In the Chief Executive’s policy address last month, it's proposed that developers would in future have to acquire at least 70 percent of a block – instead of the current 80 percent – to be able to redevelop a building that's over 50 years old.  For buildings that are over 70 years old, the proposed threshold would be lowered further to 60 percent. In papers submitted to Legco, the Development Bureau also proposed ways to streamline the compulsory sale process. An applicant would no longer be required to justify a redevelopment plan if the block is at least 50 years old, and all minority owners have given their written consent over the matter. The bureau also proposed setting up a dedicated office to provide one-stop support for owners who need help with professional advisory services, mediation or litigation. It may also help those affected find replacement flats. Brian Wong, a member of the think tank Liber Research Community, said he expects the lower threshold to boost redevelopment in areas like To Kwa Wan and Kowloon City. But he's worried that some buildings with historic value may be knocked down.  "For example in Nam Kok Road, there are a few historic old tenement buildings that are at least 70, 80 years old. They're maybe the only remaining few of its kind in Hong Kong," Wong told RTHK. "Many of them have not yet been [historically] graded... there's no guarantee that they'll be preserved."