I went to see what Treasure Hill was all about. Treasure Hill is the squatters' village that runs down the other side of the hill at the edge of the GongGuan water filtration plant (if you don't get it, see my Picasa page below that is tied into Google Maps).
I have to say that it was a little disappointing as it is under construction. Large areas have been blocked off . I managed to get into the construction area and take a walk up one of the lanes. It seems a lot of the houses have been vacated and have been gutted and/or some torn down.
Villagers are living in temporary green barrack type buildings while the renovation and rejuvenations are going on. I asked one woman there and she told me the time frame may be as long as 2 years before completion.
Once complete it will be nice as there is a great view of the river and a little creek runs nearby. The village also has a pleasant Buddhist temple. It also seems that there will be a way for villagers and passersby to ride or walk onto the riverside bike path as well.
I've posted some pics of what it looks like now here: