Fortune Loft ‧ Co Living

The "福全‧共寓" Youth Co-living Space initiative, provided by Tung Wah Group, aims to address the housing needs of young adults in Hong Kong aged between 18 to 30 years. This project involves refurbishing an old tenement building at the junction of Fukchun Street and Bodhi Street into affordable co-living spaces designed to foster community among residents. The co-living model includes shared living arrangements, allowing two or three individuals to occupy a room while sharing communal facilities such as kitchens, bathrooms, and living rooms, thus promoting interaction and mutual support among residents. To qualify for residency, applicants must be permanent residents of Hong Kong, earning a monthly income not exceeding HKD 28,000, and possessing total assets under HKD 398,000. Importantly, applicants must demonstrate a commitment to communal living by engaging in community service through the "Good Neighbour Programme," which involves visiting local elderly community members and organizing neighborhood activities to enhance their sense of belonging. Key features of the program include a savings plan that matches participant savings with financial incentives. For instance, if a resident saves HKD 300 monthly, they receive an additional HKD 100, capped at a maximum monthly matching amount of HKD 1,200, disbursed upon completion of the contract. Another integral aspect is the "Good Neighbour Programme," which requires participants to contribute at least 30 hours annually to community service, further encouraging personal growth and relationship building within the community. The application process evaluates the co-living potential of candidates based on various criteria, including their alignment with shared living values, self-management skills, emotional regulation, and social interaction capabilities. Further, the urgency of housing needs and contributions to neighborhood welfare through the Good Neighbour Programme also play crucial roles in selection. With services partially funded by the Social Welfare Department, Tung Wah Group's co-living initiative not only seeks to resolve the pressing housing issues faced by young people in Hong Kong but also promotes social responsibilities by fostering a supportive environment that encourages financial literacy and community involvement.