Work on the $40m waterfront project will start next month Detailed plans have finally been unveiled for the Tsim Sha Tsui waterfront's 'Avenue of Stars', with the long-delayed $40 million project due to open next year. The Avenue of Stars, based on the Hollywood walk of fame, will have about 70 plaques with handprints of well-known Hong Kong actors, directors and producers. Construction of the project, which is being financed by the New World Group, will start next month and is scheduled for completion in the second quarter of next year. 'It is very appropriate for Hong Kong to showcase this very important industry we have,' said Selina Chow Liang Shuk-yee, chairwoman of the Tourism Board. 'We have found that our film stars are a big attraction to visitors.' The avenue has been in the works since a feasibility study was completed in 2000. It is part of the government's $250 million plan to revitalise Tsim Sha Tsui. The project will include a two-storey-high version of the statuettes handing out to the winners of the Hong Kong Film Awards, and a detailed history of the film industry. The avenue will run along the promenade from the Museum of Art towards Tsim Sha Tsui East. New World Group, which owns adjoining properties, has invested $40 million in the project and will manage the public land for 20 years. The company will also operate three stores on the avenue to provide tourism information and sell souvenirs and snacks. New World is to share half of the profits from these shops with the government. The Hong Kong Film Awards Association is leading the selection process of those to be featured on the Avenue of Stars. Ten associations in the film industry will vote on a list of nominees. Names of the finalists would be announced in a few months, Mrs Chow said. Nominees must be leading players in the movie industry who have made a lengthy and significant contribution to the sector.