The Urban Renewal Authority said on Thursday it received 28 expressions of interest for the To Kwa Wan Road / Wing Kwong Street development scheme, including Chinachem and China Overseas Land and Investment (0688).
The project covers a site area of around 58,932 square feet, and is expected to deliver around 1,050 residential units, with an average unit size of 452 sq ft.
Market valuations for the site range from HK$3.71 billion to HK$4.51 billion, or HK$7,000 to HK$8,500 per square foot. The project is targeted for completion by 2032.
URA said that a tender review panel established under the URA Board will evaluate all submissions, assessing the relevant experience and financial capability of the developers or consortia to shortlist qualified joint venture partners.
All shortlisted parties will then be invited by the URA to submit tenders for the project, it added.
This project is the final redevelopment project within Hong Kong’s first “District-based Redevelopment New Community", officially named Victoria Cove Central, according to the URA.
Located near To Kwa Wan MTR Station, the project plans to construct two foot bridges, connecting to MTR Station entrance and the residential project One Victoria Cove respectively, to enhance accessibility within the neighbourhood.
Meanwhile, the URA noted that this project, which is situated at the geographic heart of VCC and adjacent to two pedestrian streets running north-to-south and east-to-west, will generate synergies with the other seven earlier redevelopment projects currently under construction, establishing a prominent social hub within the district.
