Hong Kong could learn lessons from London King’s Cross redevelopment project to solve housing crisis, planning expert says
University of Hong Kong academic says UK project where half of some 2,000 homes must be ‘affordable’ could be a way forward for a local project involving 1,000 hectares of farmland
A massive urban redevelopment project in London where half of the flats must be set aside for low-income families may offer ideas for Hong Kong officials mulling co-development of some 1,000 hectares of farmland with private firms to ease the local housing crisis, a planning expert said.
Professor Rebecca Chiu Lai-har, head of the University of Hong Kong’s department of urban planning and design, was referring to the King’s Cross development in the British capital, with half of some 2,000 homes in the project being affordable, as required by an agreement between the developer Argent and London authorities.
Chiu said private developers in Hong Kong held some 1,000 hectares of farmland in the New Territories, but had been unable to proceed due to a lack of infrastructure and the high cost of changing the land use for residential development.
This meant the government could control the conversation if it wanted to collaborate with the developers in releasing the land, the academic claimed.
“The government holds the power to allow developers to build on their farmland.”
For example, officials could use building infrastructure for the sites as a bargaining chip and require the developers to sell part of the land back to the government for developing affordable housing.
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“The selling price could be up for negotiation,” Chiu said. “It’s better than leaving so much land vacant.”