The United Nations Asia-Pacific Leadership Forum on 'Sustainable Development for Cities' convened by China and United Nations was hosted by the Hong Kong Government of SAR in 2004. In the forum, the Hong Kong Declaration on Sustainable Development for Cities, which encourages cities, particularly in the Asia-Pacific region, to develop comprehensive strategies on environmental protection, social, and economic development, was adopted as strategies on sustainable development in Hong Kong. The study called 'Sustainable Development for the 21st Century' (SUSDEV 21) aimed at introducing the concept of sustainability into decision making. The SUSDEV 21 guiding principles were developed to summarize the issues that represent sustainability in Hong Kong and focus on 8 key areas of sustainability. They are: economy, health and hygiene, natural resources, society and social infrastructure, biodiversity, leisure and cultural vibrancy, environmental quality, and mobility. The paper presents the 8 key areas of sustainability as stated in SUSDEV 21 across three key aspects in term of economic, social, and environment. The scope of study is related the sustainability of adaptive reuse of industrial buildings in Hong Kong. A case study of Jockey Club Creative Arts Centre, funded by The Hong Kong Jockey Club Charities Trust with a donation of HK$69.4 million, is analyzed and used to illustrate how the vacant industrial building is changed to be a cultural and creative arts centre. It is a successful case to explain sustainable development in Hong Kong.