HS scraps housing project for elderly
The Housing Society (HS) has decided to call off a Senior Citizen Residences project in Tin Shui Wai due to a large increase in construction costs. The HS had planned to develop a 1,000-unit compound catering to the needs of elderly tenants near the Hong Kong Wetland Park. According to an article in the Chinese newspaper Ming Pao, its construction was subject to various limits due to its proximity to the wetland park. But because the construction costs have nearly doubled since 2008, the HS believes the project would greatly exceed its original HK$4.6 billion budget and was no longer viable.