A social enterprise has teamed up with the government to offer innovative affordable housing with no fixed rent.
Rents are based on the tenants’ ability to pay, the Hong Kong Economic Journal reports.
Light Be, a social realty venture launched in 2013, rents space from big landlords and turns it into so-called “light homes” of 300-400 square feet.
The units are then rented out to tenants for HK$3,000 (US$387) to HK$4,000 a month — or depending on their means.
The project is backed by the Chow Tai Fook Charity Foundation and Chinese Estates Holdings Ltd., which provides management services.
The units have an open design and includes a terrace, a kitchen and toilet but no individual bedrooms.
There are provisions for amenities such as air-conditioners, exhaust fans, microwave ovens and and kitchen cabinets.
Families with a minimum of three members can apply for a unit and live there for a maximum of three years.
Fifteen families have moved in.
Light Be chief executive Ricky Yu said he is happy his idea ended up being supported by the government.
At the opening ceremony on Wednesday, Chief Secretary Carrie Lam praised the “extremely innovative” project which she said shows the government and the private sector can work together.
[Chinese version 中文版]
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