"Transit-Oriented Area Revitalization Gains Momentum"... Also Promoted Through Urban Maintenance-Type Redevelopment

[Asia Economy Reporter Kim Yuri] Areas under the station area revitalization project can now be designated as maintenance planned zones for 'urban maintenance-type redevelopment projects.' With the options for private developers promoting the project expanding from building permits and housing construction projects to include urban maintenance-type redevelopment projects, the station area revitalization project is expected to gain momentum.

The Seoul Metropolitan Government announced on the 15th that it held the 1st Urban Planning Committee meeting and conditionally approved the '2025 Urban and Residential Environment Maintenance Basic Plan (Urban Maintenance-type Redevelopment Section) Amendment.'

This amendment to the basic plan concerns changes to maintenance planned zones and involves designating areas that meet the requirements of the station area revitalization project as maintenance planned zones (urban maintenance-type redevelopment) to promote the station area revitalization project, which Seoul is pursuing as a policy initiative.

The station area revitalization project was announced by Seoul City in June last year. The core idea is to realize a 'Compact City' through three-dimensional mixed-use development combining residential and non-residential functions centered around station areas. The zoning of station areas is upgraded from general residential to commercial zones, increasing floor area ratios to induce three-dimensional and complex private development in station areas.

Fifty percent of the increased floor area ratio is contributed to the public to create public rental facilities such as offices, commercial spaces, and housing, as well as cultural facilities and shared parking lots, addressing local needs. This strategy enhances project feasibility for the private sector while expanding living SOC for the public.

A Seoul city official said, "With the conditional approval by the Urban Planning Committee, we expect the promotion of the station area revitalization project to be activated to solve urban problems and revitalize the city center."