Hong Kong heritage: can Central Market escape the fate of becoming just another shopping mall?
- While commerce and responsible design are not necessarily incompatible, Central Market will be operated by the Urban Renewal Authority and a private developer
- It remains to be seen whether they will be able to resist the purely profit motive
Unlike the two revitalisation projects mentioned above, Central Market will be implemented and operated by a consortium of the Urban Renewal Authority (URA) and a private developer instead of a charitable foundation or educational institution.
Only time will tell if such a delivery model will outperform the other two projects in execution and operation. But one thing we can be sure of: private developers enter any project for no other reason than to maximise returns on their investment, and the revenue streams are always rental yield and consumer spending.
This certainly raises the possibility that Central Market could become just another shopping mall behind the rhetorical themes of “approachable, energetic and gregarious”, following in the footsteps of other URA projects.
In reality, prime retail space in the completed development is now leased to an electric car showroom, restaurants and cafes, boutiques, high-end fashion brands and a supermarket. None of the original business owners could afford to resettle there, so the wedding theme of the redevelopment has disappeared.
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While the building’s heritage offers a worthy script for a brand story, “local brands and start-ups”, which Choi claimed to champion, are hardly the type of tenants that can generate significant profits. The public will have to wait and see if these promises turn out to be as hollow as the ones for Lee Tung Street.
The ground floor could be opened up as an extension of the busy pavements on four sides of the building; the first-floor connection between the Central escalators and International Finance Centre already allows the public to walk through the building.
By default, Central Market is an ideal piece of civic infrastructure, given its unique location and the surrounding urban context. Commerce and responsible design are not necessarily incompatible, the only question is whether the mission is in good hands.
Dennis Lee is a Hong Kong-born, American-licensed architect with 22 years of design experience in the US and China