Officials have asked the subway operator to conduct a study of the decade-long development, which will involve around 24 hectares covering the area stretching from the Hung Hom MTR station to the waterfront.
They propose building yacht facilities and other waterfront attractions, as well as a 50-storey landmark commercial and residential complex.
On the building’s top floor would be tourism facilities such as a skywalk, an observation deck and ziplines.
Permanent Secretary for Development Doris Ho told lawmakers that the site involves many railway facilities.
And so while no final decision has been made, officials plan to adopt a land disposal development approach and give the whole project to developers who might partner up with the MTRC.
“I think it’s reasonable for the MTRC to implement the proposal,” Ho told lawmakers in a development panel meeting.
“Even with the MTRC taking the lead, will there be open tender?
Well, this has been the approach for the MTRC as it developed residential projects.
“All along, it has been looking for partners through open tender.”
Ho said officials will take into consideration lawmakers’ views that the government should receive financial returns after awarding the project to the developing consortium.
While most lawmakers expressed support for the proposal, some of them aired reservations.
New People’s Party chairwoman Regina Ip and the DAB’s Chan Hok-fung were both of the view that the high-rise might not stand out given the number of tall buildings on both sides of the Victoria Harbour.
They said officials needed to provide more details as to how much profit the whole project could generate.
Ip noted that developers might not be interested, noting that so far there is not enough information regarding the project’s financial arrangements.
In response, Ho said the government’s initial study found the project to be financially viable and that officials will look further into its economic benefits going forward.
Ip added that there needs to be more supportive facilities – such as yacht maintenance and gadget shops – available to make the place truly attractive to owners.
Roundtable lawmaker Michael Tien was of the view that the plot could house some of the most expensive flats in Hong Kong, saying officials should forget about building office space and earmark more land for luxurious homes instead.
He said concept images of the marina provided by officials reminded him of “an oriental Monte Carlo”.
The Business and Professionals Alliance’s Benson Luk called on officials to cut red tape for yacht owners to make it more convenient for them to sail in the harbour.
