I think the checkerboard is best honoured by putting up a massive shopping mall right on top of it with direct rail access to Guangdong. I think a few hundred luxury time piece shops ought to do the trick. In dire need of few more of those, I know.
The crowning jewel of this memorial should be a massive tower with 300 "Imperial" luxury units complete with trimmings fit for royalty: tiny balconies, recessed small windows, 5-closet sized bedrooms barely fit for hobbits.
But hey, it's "Imperial."
This is how we commemorate things in Hong Kong chaps. Get with the program.