Yu has said the home should be renovated to include a museum, library, a cinema and martial arts area.
Others, including Bruce Lee Club chairman Wong Yiu-keung, want the original floor plan preserved so visitors can imagine how it looked when the actor lived there.
"It should be a memorial house. After all it's his former residence," Wong said.
Lee -- who was credited with catapulting the martial arts film genre into the mainstream with films including Fists of Fury and the posthumously released Enter the Dragon -- died after a severe reaction to pain medication.
His widow, now living in the US, has provided a rough blueprint of the home's original layout to help restoration efforts.
"My mom is definitely behind it," Shannon Lee said.
"I'm really in favour of (the memorial). It could be great for Hong Kong and great for my father and his legacy. I think the primary goal should be to preserve the house as much as possible to its original condition.
"The draw of this space was that it was his home," she added. "That makes it very unique."
A local design contest ended last month, but the memorial's final look, building costs, who will pay them and when it opens remain unclear.
The tourism board is hoping the attraction can draw visitors from inside and outside the city, and boost Hong Kong's hard-hit film industry.
A statue of Lee sits on Hong Kong's Avenue of Stars, but the daily South China Morning Post has described the lack of a more significant memorial to the Hong Kong-raised hero as a "travesty."
Source-AFP
SRM