The URA preserves buildings, sites and structures of historical, cultural or architectural value in its redevelopment projects, giving them a new life. The URA also undertakes heritage preservation projects which are outside its redevelopment project areas if there is policy support or a request from the Government. 78 buildings/ structures have been preserved or to be preserved by the URA.

The URA's preservation cum revitalisation projects include 7 Mallory Street, a hub for culture and creative industries; 618 Shanghai Street, the Pak Tsz Lane project which highlights Hong Kong's connection to the 1911 Chinese Revolution; and the Central Market revitalisation project. The URA also implements street beautification works to enhance the district's environment, such as the Tai Kok Tsui Revitalisation Project.