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Article: Sustainable Development as A Win–Win Development: A Hong Kong Empirical Study of the Tai Kwun Heritage Project

TitleSustainable Development as A Win–Win Development: A Hong Kong Empirical Study of the Tai Kwun Heritage Project
Authors
Chau, K WHuo, Derek DaDavies, Stephen N GLorne, Frank TLai, Lawrence W C
Keywordspublic policy
sustainable development
town & country planning
win–win development
Issue Date22-Feb-2025
PublisherWiley
Citation
Sustainable Development, 2025, v. 33, n. 4, p. 5151-5161 How to Cite?
DOI: http://dx.doi.org/10.1002/sd.3397
Abstract

This empirical study of the value-enhancing effects of a new innovative hub for art, culture, and heritage experiences (arts hub) reusing the heritage buildings of an old prison, an ex-police station cum detention centre called “Tai Kwun” (Big Station), on neighboring residential properties, treats sustainable development as a developmental process to achieve a “win–win” production of two originally mutually exclusive environmental goods by transforming negative externalities into positive ones, as encapsulated in Yu's model. The study demonstrates the win–win idea from a neo-institutional economic perspective. The empirical results of a regression analysis, based on a total of 1541 sets of transaction records of residential units in the vicinity of Tai Kwun transacted between January 1993 to December 2023, showed that the hub was a win–win solution for heritage conservation and residential development.


Persistent Identifierhttp://hdl.handle.net/10722/359031
ISSN
0968-0802
2023 Impact Factor: 9.9
2023 SCImago Journal Rankings: 2.283

 

DC FieldValueLanguage
dc.contributor.authorChau, K W-
dc.contributor.authorHuo, Derek Da-
dc.contributor.authorDavies, Stephen N G-
dc.contributor.authorLorne, Frank T-
dc.contributor.authorLai, Lawrence W C-
dc.date.accessioned2025-08-19T00:32:16Z-
dc.date.available2025-08-19T00:32:16Z-
dc.date.issued2025-02-22-
dc.identifier.citationSustainable Development, 2025, v. 33, n. 4, p. 5151-5161-
dc.identifier.issn0968-0802-
dc.identifier.urihttp://hdl.handle.net/10722/359031-
dc.description.abstract<p>This empirical study of the value-enhancing effects of a new innovative hub for art, culture, and heritage experiences (arts hub) reusing the heritage buildings of an old prison, an ex-police station cum detention centre called “Tai Kwun” (Big Station), on neighboring residential properties, treats sustainable development as a developmental process to achieve a “win–win” production of two originally mutually exclusive environmental goods by transforming negative externalities into positive ones, as encapsulated in Yu's model. The study demonstrates the win–win idea from a neo-institutional economic perspective. The empirical results of a regression analysis, based on a total of 1541 sets of transaction records of residential units in the vicinity of Tai Kwun transacted between January 1993 to December 2023, showed that the hub was a win–win solution for heritage conservation and residential development.<br></p>-
dc.languageeng-
dc.publisherWiley-
dc.relation.ispartofSustainable Development-
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.subjectpublic policy-
dc.subjectsustainable development-
dc.subjecttown & country planning-
dc.subjectwin–win development-
dc.titleSustainable Development as A Win–Win Development: A Hong Kong Empirical Study of the Tai Kwun Heritage Project-
dc.typeArticle-
dc.identifier.doi10.1002/sd.3397-
dc.identifier.scopuseid_2-s2.0-85218694286-
dc.identifier.volume33-
dc.identifier.issue4-
dc.identifier.spage5151-
dc.identifier.epage5161-
dc.identifier.eissn1099-1719-
dc.identifier.issnl0968-0802-

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