Key housing project underway
3/6/2003 14:27
Shanghai is going well with its key mid-to-low-end housing project, as the
frame construction of the first-stage 300,000 square meters has recently
completed with the initial 4,000 housing units ready to hit the market this
September as scheduled, today's Shanghai Morning Post reported, citing officials
with Shanghai Housing and Land Resources Administration.
The property
project, availing good quality yet affordable housing, is to relocate local
downtown residents to suburban areas to make way for such infrastructure
projects of the city as rail lines and green parks.
Living conditions in
these old downtown areas are usually poor and residents there are mostly of
low-incomes.
Though the residents will get government subsidies to buy new
homes, according to city's relocation rules, many complain the subsidies are too
meager to help them afford the new homes in the city especially after a sharp
rise in the local housing market.
The first one-million-square-meter
residential quarters of the project, starting construction last year, are
located in six suburban venues along the Outer Ring Road, including Shanlin,
Pingyang, Huanshan and Donglu.
Frame construction of the quarters has been
completed and supply construction of water, power, telecommunications and other
public facilities are now under way.
Housing units of the quarters will be
distributed to operators of city's key infrastructure projects to be sold to the
relocated residents.
Shanghai housing authority plans to develop an
additional 1.08 million square meters of these cheap residential quarters this
year in seven venues along the Outer Ring Road to move out downtown relocated
residents.
Jane Chen / Shanghai Daily news
|
