Department of Finance

“The Urban Renewal Project of 5 lands, including Parcel 472, 2th Subsection, Xinmin Section, Beitou District in Taipei City" led by TCG is the first urban renewal project implemented by DOF using creation of superficies method. After the renewal, a 14-story hot spring hotel with 3 basement floors was constructed. It obtained the usage license on September 4th, 2023, and officially operated on September 18th,2024. This project successfully revitalizes city properties, connects with the surrounding hot spring tourism industry, and provides numerous public benefits to local residents.

DOF stated that the project is 3,442.73 square meters, with 75.95% of the land owned by Taipei City and 24.05% owned by New Taipei City. Before the renewal, this area was used to be the dormitories for TCG staff. Through the open selection process, Fubon Life Insurance Co., Ltd. obtains the qualification of implementing this project, which includes conducting urban renewal and construction. After the completion of the project, the Silks Hotel Group will be responsible for operations.

Hu Hsiao-lan, the commissioner of DOF, said that the project is located along the important tourism corridor, Quanyuan Road, in Beitou. Since the entire area consists of public lands, the project was designated as a hot spring hotel with a 70-year creation of superficies. This approach not only retains large area of city-owned land but also collects royalties, which accelerates the increase of revenue, continuously earns rental income, and maximizes the value of city land.

Hu Hsiao-Lan, the commissioner of DOF, further indicated that the project is designed as a gold-level green building in order to enhance the sustainability. Furthermore, it also increases public interest for the community. The project is required to provide a 150-square-meters multifunctional public space on the second floor for community for promoting local features usage. Additionally, for the purpose of providing benefit to citizens, a 24-hour outdoor foot bath pool will be placed for free use. And Beitou residents and elders could receive 10% discount for bathing, accommodation and dining. The aim is to revitalize city-owned properties, enhance the urban landscape, boost tourism development, and create job opportunities for local residents, achieving a win-win situation.

DOF pointed out that it will keep implementing urban renewal to revitalize Taipei City. The process will take into account all the demands of resident and the features of each land, to achieve the vision of TCG, "citizen-centric".