Model museum:
Secretary for Home Affairs Tsang Tak-sing (first left) and Chief Secretary Carrie Lam present the model of the museum for visual culture M+.
Model museum:
Secretary for Home Affairs Tsang Tak-sing (first left) and Chief Secretary Carrie Lam present the model of the museum for visual culture M+.
No extra funding for arts hub: CS
June 28, 2013
The West Kowloon Cultural District Authority has no plans to seek further funding for building Hong Kong's arts hub, Chief Secretary Carrie Lam says.
Speaking to the media after the authority's board meeting today, Mrs Lam said members agreed on containing costs to a level close to the original budget, emphasising content rather than form, and on plans to open the park and some arts and cultural facilities early for public enjoyment.
As the authority's board chairman, she said the board has reviewed the financial status of the project, including rising construction costs.
“Past experience shows that, over a period spanning two decades, there could be changes of significant magnitude in the construction costs both upward and downward. We have no plan to seek additional capital injection to the endowment fund at this stage and will review in due course the need to seek additional funding in light of any changes in circumstances and our continued effort of cost containment,” Mrs Lam said.
A $21.6 billion upfront endowment was granted in 2008 to implement the project. After investment, the fund had increased to $23.6 billion as at the end of March.
The authority is conducting a value engineering exercise for the Xiqu Centre, and its cost has been lowered from $2.7 billion to $2.5-$2.6 billion. It is also negotiating with the selected design team of M+ to lower the project cost without compromising the facilities' function and quality.
The authority is considering turning the park into quality open space with arts and cultural facilities and “pop-up” catering facilities, which can be made available for early enjoyment by the public and the arts community in 'compressed' programmes.
They will also seek donations and sponsorship through granting of naming rights to facilities, and will look at generating additional gross floor area through town planning procedures to optimise the development potential of the site.
Meanwhile, the authority announced today the appointment of Herzog & de Meuron + TFP Farrells to design M+, the museum for visual culture, scheduled for completion in 2017.
The museum will be located on the Victoria Harbour waterfront at the edge of the 14-hectare park, and will be one of the first arts and cultural venues completed.
