DOI: 10.19830/j.upi.2020.577
Analysis of Transfer of Development Rights for Privately-owned Built Heritage Conservation from Multi-dimensions and Optimizing Strategy of Hong Kong

Hou Jun, Chan Edwin Hon Wan, Meng Qinghe, Lyu Fei

Keywords: Transfer of Development Rights (TDR); Private-owned Built Heritage; Market Mechanism; Institutional Arrangement; Social Equity; Public Participation

Abstract:

Transfer of Development Rights (TDR) is considered as a win-win market mechanism to achieve the objective of built heritage conservation as well as respecting the private property rights without using public fund, and is utilized worldwide. However, due to the lack of TDR related institutional arrangement and effective supporting policy in some cities, it also cause a series of new problems. Firstly, this paper introduces the local institutional system related to TDR in Hong Kong. Then taking two controversial TDR projects of Hong Kong as cases, it systematically analyzes the problems of TDR from three dimensions, namely governance, community, and program through investigation and interview. Besides, the paper points out the institutional difficulties in TDR, including the difficulties of balancing private property rights, public resources and historical building conservation, coordination of inter-governmental departments and establishing fair market mechanism. Finally, the strategies to improve institutional arrangement from three perspectives of constitution, governance and operation are proposed.

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