Now, with the impending expiration of the scheme, more industrial property owners are flocking in to submit their revitalization plans to the Town Planning Board.
Old industrial buildings require significant maintenance and upkeep, and the government will still need Policy analysis on industrial building revitalization find a way to ensure that owners maintain their assets to a proper, safe standard. It has increased the operation cost and financial burden of the small enterprises, especially for the cultural and artistic groups.
Unless the title of an existing industrial building is held by a single entity, securing an agreement from all the owners for conversion of the entire building into non-industrial use is not easy.
Besides that, the demolition process intensifies the environmental pollution and resources wastage. The scheme has been a major contributor to driving up capital values and rents. For example, some old industrial regions, such as Kwun Tong, Kowloon Bay and Yau Tong are located at Kowloon East, the industrial building revitalization policy in those regions should be consistent and compatible with the Development Kowloon East Scheme.
The government is of the view that industrial activities in general carry higher risks in terms of fire and other hazards e. As a result, Kwun Tong is no longer an art region. Different varieties of businesses like holiday inns, arts studios and sport centres are developed making the department hard to control.
The vacancy rate of industrial buildings was 6. In the economical view, the obsolete factory buildings in urban areas have caused reduction in land value, wastage of precious land resources and expenses of heavy maintenance cost.
The strategy for revitalization of an industrial site was developed through investigation of the Creative Class values, analysis of Moscow's historical development and analysis of case studies from Europe.
Apparently this is the reason the government favors entire rather than partial conversion of existing industrial buildings.
This rebounding industry will also seek industrial space for development. As the government agenda has adhered to sustainability, the policy could contain more incentives for the owners to include various green features in the building design and usage.
This made the conversion more efficient and created job opportunities. It is unlikely that existing industrial buildings could benefit from the initiative by Panning Department, except in the case of redevelopment. However, there are no any accessory policies and official assistance to help the cultural workers.
Besides that, the old tenement buildings in urban areas are full of illegally operated sub-divided units, of which the low-class and grass-rooted level people can only able to afford.
GFA still in progress. On the other hand, workshops for leather-making or other hand-made products are provided so that people can showcase their creativity. To meet the supply demand, the government will need to release more industrial land for sale by tender.
Actually, among the revitalized industrial buildings, most are converting into hotels, offices and retail services. In fact, this measure has stimulated the property market of industrial buildings and so pushed the rentals up.
This issue is particularly problematic in stratified buildings with poor building management, where the fragmented ownership structure makes redevelopment or repurposing almost impossible.
Given the shortage of supply, industrial rents will continue to rise in the foreseeable future. Notwithstanding the incentives initiated by the government, the revitalization of old industrial buildings is not without its challenges. Ironically, no any follow-up measures for the six industries have been adopted by the government up till now.
The forth measure is proposed to encourage the factory owners to transform the old and under-utilized industrial buildings to other higher value-added uses through relaxation of relevant regulations and restrictions.
International experience has successfully illustrated the possibility and feasibility of converting industrial buildings into social housing. Since the increase in GFA and building height of the buildings are not allowed under this policy, the owners have to sacrifice portion of more valuable ground floor retail areas to accommodate the additional car parking spaces.
Mo Further to the comments made by Eddy Li on Feb 21 on the latest measures by government for revitalizing existing industrial buildings, Financial Secretary John Tsang said in his recent budget speech the government will continue encouraging revitalization of industrial buildings to make more floor areas available for commercial and other uses.
Moreover, in order to prevent speculation of those units, the sale and purchase of the revitalized industrial units should be discouraged within a period of time after adaptation.
The surplus factory buildings have become unoccupied and so their market values have remained low when compared with other property sectors. Due to the northern movement of the manufacturers and industrialists for the relocation of production activities, the demand of industrial buildings has declined.
The thesis addresses two severe consequences of Russia's post-industrial transition which have been happening over the last 50 years in Russia.
Then, what caused this policy goal more difficult to achieve than anticipated by the government? With an estimated 1, industrial buildings eligible under this scheme, the numbers are far from satisfactory.
In the economical view, the obsolete factory buildings in urban areas have caused reduction in land value, wastage of precious land resources and expenses of heavy maintenance cost.Policy Analysis on Industrial Building Revitalization 1. Background In the past few decades, Hong Kong has undergone economic transformation from /5().
The Industrial Revitalization Policy is scheduled to discontinue in March With the growing demand for industrial space, as well as a rebound in certain manufacturing sectors, the Hong Kong.
Policy Analysis on Industrial Building Revitalization 1. Background In the past few decades, Hong Kong has undergone economic transformation from secondary industry to tertiary service. Due to the northern movement of the manufacturers and industrialists for the relocation of production activities, the demand of industrial buildings has declined/5().
Background brief on revitalization of industrial buildings Purpose industrial building is aged 15 years or above and situated in "Industrial", "Commercial" or "OU(B)" industry, should not be ignored under the new policy to revitalize old industrial buildings. Industrial heritage in Slovakia is characterized by many controversial demolitions of industrial buildings and sites on the one hand, and the successful revitalization projects on the other hand.
One of the basic problems is the lack of public awareness about the values and qualities of the preserved industrial. Impacts of the Revitalizing Industrial Buildings (RIB) Scheme in Hong Kong Article (PDF Available) in Sustainable Cities and Society · September .Download