The West Kowloon arts hub faces a major challenge of securing extra government funding for its vast underground complex, says the project's chief.
Michael Lynch, CEO of the West Kowloon Cultural District Authority, said yesterday he had managed to achieve progress for the long-delayed, multibillion-dollar development, but foresaw the funding challenge in the coming months.
'The basement is a complicated issue. It goes all under the site ... It is complicated in financing,' said Lynch, who was giving a status report after his first year in office. 'Some of it will be paid by the government, some by business people who will be building offices and apartments there.'
The authority was negotiating over the government's contribution, which would amount to billions of dollars, he said.
As the underground design came after it secured its original endowment of HK$21.6 billion from the government in 2008, it would need a separate fund to build the complex, Lynch said.
He had mentioned this to lawmakers last year when he said the underground facilities and other green features in British architect Norman Foster's design would add an extra HK$4 billion to the costs.
The complex is now an integral part of the master layout plan by Foster's firm.