Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong
Redevelopment in Hong Kong must be accelerated in response to urban decay and land shortages. However, due to a lack of incentives and effective policy tools under Hong Kong’s floor area ratio regulations, there has been limited public–private partnerships in the urban renewal process, reducing both...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-12-01
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| Series: | Land |
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| Online Access: | https://www.mdpi.com/2073-445X/11/12/2248 |
| _version_ | 1797456764583542784 |
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| author | Yidi Wang Ying Fan Zan Yang |
| author_facet | Yidi Wang Ying Fan Zan Yang |
| author_sort | Yidi Wang |
| collection | DOAJ |
| description | Redevelopment in Hong Kong must be accelerated in response to urban decay and land shortages. However, due to a lack of incentives and effective policy tools under Hong Kong’s floor area ratio regulations, there has been limited public–private partnerships in the urban renewal process, reducing both the public welfare and the efficiency of land use. We review the evolution of Hong Kong’s density schemes for addressing urban redevelopment issues to identify the most important barriers to private sector involvement. We also summarise the international experience and identify viable policies, compare cases in Hong Kong with successful transfer of development rights (TDRs) examples, point out TDRs’ shortcomings, and propose targeted policy optimisation strategies. On a practical level, this study has implications for the creation of targeted density policies to address Hong Kong’s ageing infrastructure and facilitate the urban transformation of Hong Kong and similar high-density cities so that they can continue to support sustainable urban growth. |
| first_indexed | 2024-03-09T16:12:31Z |
| format | Article |
| id | doaj.art-fd89d146cb4d4172bcc4eff6d16e0386 |
| institution | Directory Open Access Journal |
| issn | 2073-445X |
| language | English |
| last_indexed | 2024-03-09T16:12:31Z |
| publishDate | 2022-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Land |
| spelling | doaj.art-fd89d146cb4d4172bcc4eff6d16e03862023-11-24T16:07:53ZengMDPI AGLand2073-445X2022-12-011112224810.3390/land11122248Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong KongYidi Wang0Ying Fan1Zan Yang2Tsinghua Hang Lung Center for Real Estate Studies, Institute of Real Estate Studies, Department of Construction Management, Tsinghua University, Haidian District, Beijing 100084, ChinaDepartment of Building and Real Estate, the Hong Kong Polytechnic University, Kowloon, Hong KongTsinghua Hang Lung Center for Real Estate Studies, Institute of Real Estate Studies, Department of Construction Management, Tsinghua University, Haidian District, Beijing 100084, ChinaRedevelopment in Hong Kong must be accelerated in response to urban decay and land shortages. However, due to a lack of incentives and effective policy tools under Hong Kong’s floor area ratio regulations, there has been limited public–private partnerships in the urban renewal process, reducing both the public welfare and the efficiency of land use. We review the evolution of Hong Kong’s density schemes for addressing urban redevelopment issues to identify the most important barriers to private sector involvement. We also summarise the international experience and identify viable policies, compare cases in Hong Kong with successful transfer of development rights (TDRs) examples, point out TDRs’ shortcomings, and propose targeted policy optimisation strategies. On a practical level, this study has implications for the creation of targeted density policies to address Hong Kong’s ageing infrastructure and facilitate the urban transformation of Hong Kong and similar high-density cities so that they can continue to support sustainable urban growth.https://www.mdpi.com/2073-445X/11/12/2248floor area ratio regulationurban renewaltransfer of development rightsdensity relaxationHong Kong |
| spellingShingle | Yidi Wang Ying Fan Zan Yang Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong Land floor area ratio regulation urban renewal transfer of development rights density relaxation Hong Kong |
| title | Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong |
| title_full | Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong |
| title_fullStr | Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong |
| title_full_unstemmed | Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong |
| title_short | Challenges, Experience, and Prospects of Urban Renewal in High-Density Cities: A Review for Hong Kong |
| title_sort | challenges experience and prospects of urban renewal in high density cities a review for hong kong |
| topic | floor area ratio regulation urban renewal transfer of development rights density relaxation Hong Kong |
| url | https://www.mdpi.com/2073-445X/11/12/2248 |
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