What a Difference a Rainbow Makes

Wing Lee Street

Historical building preservation, something to celebrate right?
Not for everyone. The owner of this house had been waiting for compensation and relocation. Wing Lee Street had originally been part of a redevelopment plan, until the film “Echos of the Rainbow” made it famous and¬†indestructible. Under this new preservation scheme, residents will only be able to sell their buildings at market value, which despite their location is relatively low, as the buildings are in very bad repair and over 60 years old.

While I am glad that this little snippet of old Hong Kong charm will be saved the destiny of becoming another high-rise block, I am only too aware of the irony. For the residents, the sudden increase in historical value of their homes has decreased the monetary value, and for the time being taken away from them an immediate improved standard of living. As the surrounding area is proliferating rapidly, whether they will benefit in the long term, only time will tell.