Premier Jiang Yi-huah was briefed by the Ministry of Finance today on an urban renewal plan to rejuvenate Taipei City's Huaguang special district into a vibrant neighborhood offering world-class amenities.
Linking Chiang Kai-shek Memorial Hall to the bustling Yongkang Street shopping area, this district in the heart of Taipei will be transformed to accommodate excellent tourism, commercial lodging and leisure facilities, said the premier. Its cultural and historic character will be preserved while the surrounding land will be utilized in a way that benefits both the economy and the environment. Covering 10.5 hectares in total, the district will be developed in phases and by zones.
Projects to develop Huaguang's state-owned land have been incorporated into the Economic Power-Up Plan. Zones 1 and 2 in the first phase of the project are projected to generate NT$3.7 billion (US$126 million) in private investments and NT$33.2 billion (US$1.13 billion) in overall returns. These development activities are expected to help create business and job opportunities, generate tax revenue and energize the economy, said the premier.
City planning for the district itself will focus on developing people-friendly architecture, artistic space and all of the urban conveniences that will attract tourism, business hotels, shops, office buildings and start-up companies. Future plans include restoring historic sites and buildings in the neighborhood.