West Kowloon arts hub to name COO to steer commercial development
Chief operating officer to focus on establishing shops and homes in the new cultural district
The West Kowloon arts hub is appointing a chief operating officer to develop its commercial and residential space.
"The idea is to assist on commercial deals and establish the retail and residential side of the project," Michael Lynch, chief executive officer of the West Kowloon Cultural District, said in a Redefining Hong Kong panel discussion hosted by the .
Cultural facilities will take up 35 to 40 per cent of the gross floor area of the development.
Developers will build most of the flats, but the authority is planning a hotel for visiting artists, rehearsal facilities and creative space for young people and artists.
The government gave the arts hub authority an initial endowment of HK$21.6 billion in 2008. With investment returns, the amount is now HK$24 billion.
Lynch said HK$1.3 billion had been spent over the past six years.