Authority earmarks dozens of pre-war buildings in its 'most ambitious initiative'
Close to 50 pre-war shophouses will be preserved by the Urban Renewal Authority, which is to dish out financial incentives to owners to help restore the buildings.
Twenty of them are expected to be acquired compulsorily because of their high historic value.
A district representative yesterday welcomed what the URA chief described as 'the most ambitious initiative', but urged the authority to offer an option allowing owners to transfer their development right elsewhere.
Shophouses refer to low-rise buildings with a verandah. The upper floors are usually residential flats, while the ground floor is occupied by shops.
'The acquired buildings will be revitalised,' URA chairman Barry Cheung Chun-yuen said.