The projects, which costs HK$1.33 billion, is the largest single conservation initiative ever undertaken in Hong Kong. This conservation plan is the initiative of the expanded conservation strategy for 48 pre-war shophouses across Hong Kong. The URA has two alternatives: to buy property rights of the shop houses and redevelop them into commercial or other uses; to re-zone them so as to limit the use of those shop houses for preservation purposes. Most of the cost, about $1.23 billion, would be spent on property acquisition and tenants' rehousing of the 73 households with 220 residents in the two sites' 24 buildings. The remaining one-tenth of the sum is used for renovation.