The complex, owned by Wharf Properties Limited, part of The Wharf Limited group, was opened in April 1994.
History
The site was previously occupied by the original tram depot of the Hong Kong Tramways, another of the Wharf's subsidiary operations acquired in 1974. The approved Tramways' plan to relocate its depots to Sai Wan Ho and Sai Ying Pun in July 1986, on the argument that the HK$3.5 million in operating costs savings would allow for tram fares to be held down.
The area was predominantly residential, Following the relocation of Wanchai depot, the site was surrendered to its associate in 1988.
In 1991, the concrete plans were announced: the project would create 186,000 m? of retail and office complex, an estimated construction cost of 2 billion.
At the time, this part of Wanchai/Causeway Bay was deemed "not a very attractive part of town". The developer's debt levels and the uncertainty over sovereignty also rendered project financing more problematic. Due to the high land price in Hong Kong, and the higher yield on retail property, Times Square departs from the common western model of the flat shopping mall. The entire complex remains owned by Wharf, but western and eastern office towers of the complex have been named "Shell Tower" and "Tower One" respectively.
Ground floor open space
Under the terms of a Deeds of Dedication signed with the Government, 3,010 sq. m of the ground floor was set aside for public access, pedestrian passage and passive recreation. However, the company has the right to organise exhibitions there, and charge fees. The exact details of the concessions to the developers were not made public.
Public open space controversy
Between July 2003 and March 2005, a corner of the piazza was leased to Starbucks Coffee. The company claimed it was an "unintentional oversight" that was quickly corrected after the Buildings Department complained. Since then, there has been a vociferous campaign to re-examine provisions for public open space, and the government ''quid pro quo'' with property developers.
Alan Leong lamented the poor quality of some of Hong Kong's public open spaces, and said he hoped that a Legco review would result in a "more transparent and predictable system".
The Secretary for Justice, on behalf of the Government, filed a writ in the High Court against Times Square Ltd and its parent company Wharf Group, seeking to recover rental fees of as much as HK$124,000 a day for use of the Causeway Bay piazza dating back to 1993. Commentators describe it as a landmark lawsuit which may have significant implications for other property owners if it is successful.
The company believes that it has not charged more than what is allowed in the deed, but welcomed the case saying it would ultimately provide for guidance on the proper interpretation of the relevant clauses in the deed of dedication concerned.
Transport
Times Square is served by the MTR's station. There is an underground passage which directly links the building, and an exit, coined "A1" opens into the ground floor podium level.
It is also accessible by in the direction to or Shau Kei Wan.
Cultural reference
The Times Square Marketplace Mall was featured in the 2003 film Lara Croft Tomb Raider: The Cradle of Life where a department store that is marked as 'closed for renovation' is secretly hiding a biological weapons production plant.
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