Gangdong-gu Signs Business Agreement with Seoul Housing & Communities Corporation for Smooth Project Promotion ... Financial Savings through Complex Development, Expansion of Public Facilities and Living SOC, and Parking Lot Construction Plans
Business Agreement Ceremony for the Complex Development of Gangdong Advanced Complex Building (Myeongil 1-dong) held on the 26th
[Asia Economy Reporter Jong-il Park] Gangdong-gu (Mayor Lee Jeong-hoon) signed a business agreement with Seoul Housing and Communities Corporation on the 26th to actively promote the ‘Gangdong Advanced Complex Government Building (Myeongil 1-dong) Complex Development’ project.
This agreement aims to establish a collaborative system between Gangdong-gu and Seoul Housing and Communities Corporation to smoothly advance the complex development around the Myeongil 1-dong Community Service Center area.
The signing ceremony was attended by Lee Jeong-hoon, Mayor of Gangdong-gu, and Kim Se-yong, President of Seoul Housing and Communities Corporation, among others, where they agreed to mutually cooperate on role division for project promotion and overall matters such as facility management and operation.
Public facility complex development, such as the Gangdong Advanced Complex Government Building, is a project that constructs a complex of public offices, living SOC, and Happy Housing on old and underutilized public facility sites in accordance with the Special Act on Public Housing. Local governments reduce public facility construction costs while improving the quality of life for local residents and especially achieving housing stability for the younger generation.
The target sites, Myeongil 1-dong Community Service Center and Youth Center, are located in the Myeongil Station area, adjacent to a traditional market and large apartment complexes, offering good accessibility and high demand for public, administrative, and cultural services. However, the buildings were aging and cramped, causing continuous complaints about inconvenience.
Accordingly, Gangdong-gu plans to build a complex building with four underground floors and thirteen aboveground floors through the complex development project, significantly expanding public facilities and living SOC and supplying Happy Housing for young people.
To this end, last year the project was selected by the National Balanced Development Committee and Seoul City’s Living SOC project, securing 1 billion KRW in national funds and 2 billion KRW in city funds, and was chosen as a candidate site for the Ministry of Land, Infrastructure and Transport’s Happy Housing, laying the groundwork for project promotion.
Additionally, to revitalize Myeongil Traditional Market and resolve parking difficulties in residential areas, the project plans to create an underground parking lot by linking the complex development with the adjacent Yeomjugol Children’s Park and part of the road. The project cost will be actively secured by applying to the Traditional Market Parking Environment Improvement Project conducted by the Ministry of SMEs and Startups.
The complex development project will proceed with the exemption of central investment review, design competition, and integrated public housing review committee procedures by next year, starting with this business agreement, aiming for completion in 2023.
Lee Jeong-hoon, Mayor of Gangdong-gu, stated, “The Gangdong Advanced Complex Government Building complex development project is expected to save about 20 billion KRW in finances compared to developing public facilities independently, providing various public services to local residents and contributing to housing stability for the younger generation. We will also actively promote related projects such as the underground parking lot construction at Yeomjugol Children’s Park to resolve parking difficulties at Myeongil Traditional Market and revitalize the local economy.”
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