The density of the redevelopment project on Staunton and Wing Lee streets will be scaled back to preserve the historical elements of the area, the Urban Renewal Authority (URA) announced after its board meeting yesterday.

Authority Chairman Barry Cheung said the revised development will create a deficit of HK$170 million for the project, which is being slashed from 21,000 sq m to 11,300 sq m, with a reduction in plot ratio from 8 to 4.5.

The authority decided to scale back the development density after community groups expressed concerns, and to make the project consistent with the government's initiative to preserve the Former Police Married Quarters on Hollywood Road, which is opposite from Staunton Street and on the original site of the Central School where Sun Yat-sen, the "Father of Modern China", studied between 1884 and 1886.

Chief Executive Donald Tsang announced last year the revitalization of the Central School site for educational use and to promote creative industries.

The original plan to erect a 28-story building along Wing Lee Street will be scrapped. Three tenement buildings showcasing the terrace characteristics in the street will be preserved, and the new building to be erected has just six stories.

An open space will be provided on the rooftop of the Bridges Street Market, which was the old site of the American Congregational Mission Preaching Hall where Sun Yat-sen lived and was baptized in the 1880s.

The century-old Victorian stone pitch wall at the back of Wing Lee Street will be preserved, but the authority will create a plaza at the junction of the street and Shing Wong Street to enhance visibility of the stone wall.

Cascading buildings of up to 12 stories will be built on Shing Wong Street to enhance the area's visual quality.

Secretary for Development Carrie Lam said it was appropriate to adjust the development, even though it will cost the authority.

"There is no rigid specification that the authority needs to make money for every project. If it is consistent with the community development, characteristics, residents' demand and public interest, the government will support it even if it loses money," she said.

Cheung said they have reached a balance between residents' demand to preserve the buildings and the development needs.

"Some of the buildings on Staunton Street have not been renovated for years," he said. "They are in poor condition and have no historical value. Renovating them is costly and not worthwhile."

The affected landlords, however, apparently disagreed.

Dare Koslow, who has lived in Hong Kong for 15 years, bought a 1,500 square foot flat on Staunton Street for HK$8 million and renovated it for HK$1.5 million a year ago.

"The building represents the past of Hong Kong," he said. "I purchased it just because it is old. It is still possible to keep the building beautiful. The city loses its past by knocking down old buildings."

Juliette Chow, managing director of private investment company IRG Limited, spent HK$30 million to buy a building on Staunton Street, using it as office and staff quarters.

"It is regrettable that Hong Kong has lost a place with historical interest," she said.

Antiquities Advisory Board member Bernard Lim welcomed the authority's move to lower development density, but he stressed that the new buildings to be erected should resemble the old design of the existing buildings.

"Buildings such as a big shopping mall should be avoided," he said.

Secretary for Development Carrie Lam said the government will invite interested parties to submit proposals next year on the use of the Central School site.

Chu Hai College professor Anthony Siu said the site should be used to promote the cultural development of Hong Kong.

(HK Edition 11/25/2008 page1)