The URA yesterday issued property acquisition offers to eligible owner-occupiers of residential properties in the Kan Sin Lei/Fook Wah Street development in Sham Shui Po (SSP-017) at a price of $16,022 per square foot of saleable area, which is the price of a hypothetical replacement unit in the same district of 7 years old.

The development will involve a total of about 830 titles and owners will have 60 days to consider the URA's offer to acquire their properties.

In addition, the URA will offer "flat-for-flat" units in the new development to be built on the site of the project, or "flat-for-flat" units in the Kai Tak One Residences project, as an alternative to cash compensation to eligible residential owner-occupiers.

Upon acceptance of the offer by the property owner and completion of the acquisition procedures, the URA will offer an EGA to all eligible tenants in the property, and eligible domestic tenants may choose rehousing arrangements in lieu of the EGA.

The URA will conduct physical and online video briefings to explain the acquisition, ex-gratia allowance and rehousing criteria and arrangements to the affected owners, tenants and commercial tenants, and will arrange dedicated staff to follow up on each case.

The Salvation Army's Urban Renewal Community Service Team (Tel: 3586 3095), hired by the Urban Renewal Fund, will provide appropriate assistance and counselling to owners, tenants and commercial tenants in need.

Two redevelopment projects in Sham Shui Po, namely the Kan Sin Lei/Fook Wah Street project and the adjacent Cheong Wah Street/Cheung Sha Wan Road development (SSP-018 scheme), will be launched in September 2021 under the URA's master plan to enhance the overall effectiveness of the projects in the district. Depending on the detailed design of the projects, the two projects will provide a total of 1,830 residential units upon completion of redevelopment.