Editing Home Ownership Scheme (section)

==Hung Hom Peninsula controversy==
One PSPS project, the 2,470 flat [[Harbour Place|Hung Hom Peninsula]] built by New World Development and Sun Hung Kai Properties,<ref>{{Cite web
 |author=Colum Murphy and Sylvia Hui 
 |title=Legislation to block flats demolition ruled out 
 |date=3 December 2004 
 |work=The Standard 
 |location=Hong Kong 
 |url=http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14546&sid=&con_type=1&d_str=20041203&sear_year=2004
 |archive-url=https://web.archive.org/web/20110522075926/http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14546&sid=&con_type=1&d_str=20041203&sear_year=2004
 |url-status=dead
 |archive-date=22 May 2011
 |access-date=10 August 2008 
}}</ref> was sold for a below-market land premium of HK$864&nbsp;million to [[New World Development]], who subsequently sold off half share to [[Sun Hung Kai Properties]]. In 2004, the consortium announced the demolition of these buildings to make way for luxury apartments, which was met by public outcry over the needless destruction of "perfectly good buildings" to satisfy "corporate greed". In an unprecedented about-turn, the developers withdrew the plan on 10 December 2004.<ref>{{Cite web | last = Ng | first = Michael & Teddy | title = Demolition of Hung Hom flats scrapped | date = 11 December 2004 | work = The Standard | location = Hong Kong | url = http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14974&sid=&con_type=1&d_str=20041211&sear_year=2004 | access-date = 10 August 2008 | url-status = dead | archive-url = https://web.archive.org/web/20110522032001/http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=14974&sid=&con_type=1&d_str=20041211&sear_year=2004 | archive-date = 22 May 2011}}</ref> The buildings were substantially renovated instead.