 This loss, totalling one-third of its passengers, would translate into revenue loss of some HK$17 million per annum for Star Ferry.Architects and conservationists argued that the pier was architecturally significant to Hong Kong as one of the last remaining examples of a Streamline Moderne public building (along with the Central Market and Wan Chai Market which have been earmarked for demolition); culturally the pier was widely recognised as a part of local collective memory.The Hong Kong Institute of Architects warned against the destruction of Hong Kong's heritage, saying it would be an irreversible mistake.