The National Housing and Urban Regeneration Center on Tuesday announced that it would start processing applications for a public urban renewal project in Taipei’s Xinyi District (信義) valued at NT$2.82 billion (US$92.66 million).
The project is on a 4,394m2 plot on Civil Boulevard, Sec 6 near Songshan Railway Station, the center said, adding that the deadline for applications is Dec. 27.
The center said that it would grade interested parties based on how they would construct the two buildings on the plot, divide public and private properties, and integrate the project with the neighborhood.
Upon completion of the project, the government would keep one building for a children’s shelter, social housing and apartments to rent, the center said.
It said that it aims to collaborate with experienced builders to construct the project and create an environment that is friendly for all parties involved.
Developers and builders have in the past few years turned their focus to superfices rights and urban renewal projects in Taipei due to a lack of idle land supply.
The investors that gain approval would have the opportunity to expand the project’s base to old buildings nearby to maximize profits, the center said.
The investors and minor private land owners may divide the floor space in the other building and introduce shops and residential apartments as they see fit, the center said.
The two buildings would have separate management systems, in keeping with the coprosperity principle, it added.
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