(6 March 2025). The Urban Renewal Authority (URA) received a total of 28 Expressions of Interest (“EOI”) for the development of the Shantung Street / Thistle Street Development Scheme (YTM-012 Project) in Kowloon before the deadline for submission at noon today.
A tender review panel under the URA Board will evaluate the submissions and shortlist qualified developers and consortia based on their development experience and financial capability. The shortlisted developers and consortia will be invited to submit tenders for the development of YTM-012 Project according to the principal tender terms previously approved by the URA Board.
YTM-012 Project is located in the vicinity of one of the Development Nodes proposed in the District Study for Yau Ma Tei and Mong Kok. To align with the redevelopment and enhance the planning gains, the URA has adopted an integrated approach to improve the overall layout of the existing Thistle Street Rest Garden (TSRG) adjacent to the project, with revitalisation works commenced in late 2024.
Covering a site area of 2,475 square metres 1, YTM-012 Project will provide a maximum total gross floor area (GFA) of 14,949 square metres. In order to provide greater design flexibility for the project, the URA has applied the approved planning tool of “interchangeability of domestic and non-domestic plot ratio” under the Mong Kok Outline Zoning Plan. Without exceeding the permitted maximum GFA, the maximum domestic plot ratio has been relaxed from 7.5 to 8.5, resulting in a GFA of 14,118 square metres for private residential purpose, which will provide around 380 residential units. In addition, approximately 2,850 square metres of floor space will be designated for Government, Institution or Community facilities, which shall be exempted from GFA calculation.
