Change Approval Four and a Half Years After 2015 Project Implementation Approval for Zone 1
Zone 4 Under Demolition... Also Designated as Urban Regeneration Innovation Project
▲ Current status map of Wondang New Town, Deogyang-gu, Goyang-si, Gyeonggi Province (Provided by Goyang City Hall)
[Asia Economy Reporter Chunhee Lee] The Wondang New Town project in Deogyang-gu, Goyang-si, which had been stagnant due to the housing market slump in the northwestern region of Gyeonggi Province, is showing signs of revival.
According to industry sources on the 14th, Goyang City Hall recently approved a change to the business implementation plan for the Wondang 1 District housing redevelopment maintenance project. This is the first change approval in four and a half years since the initial business implementation approval in September 2015. The district was designated as a redevelopment promotion zone in 2007 as part of Wondang New Town. Although the association was successfully established in August 2011, the project stalled and showed little progress until now.
According to the amendment, the project area was adjusted, reducing the number of housing units from the original 2,738 to 2,601. However, the number of rental housing units decreased from 509 to 209, a reduction of 243 units, while the association and general sale units increased from 2,229 to 2,335. A representative of the association stated, "We plan to conduct re-sale to association members between May and June, aiming for management disposition approval next year."
Wondang New Town was designated in 2007 to redevelop the area around Wondang Station on Seoul Subway Line 3 and Wonreung Station on the Gyeongui-Jungang Line near Goyang City Hall, where most of the city area had become aged. The total area of the New Town reaches 1,304,000 square meters and was planned to include eight residential districts, commercial zones, and a complex town.
However, due to the housing market slump caused by the 2008 global financial crisis, the project lost momentum, and currently, only about half of the entire area retains its district designation. Districts 3, 5, 6, and 7, along with the commercial zone, have been excluded from development. The areas remaining as redevelopment promotion zones are Districts 1, 2, and 4, along with the complex town. District 8 remains as a preservation maintenance zone due to the project timeline not yet being reached.
The districts where the project is progressing have recently resumed procedures. The fastest progressing district is District 4. It received management disposition plan approval last year and is currently undergoing demolition. Although general sales were planned for early this year, conflicts between the association and the emergency response committee, as well as issues regarding the obstruction of views of nearby school facilities, have caused difficulties. District 2 passed architectural review last year and is preparing for business implementation approval.
Wondang New Town is also included in the government's urban regeneration innovation project. The government and Korea Land & Housing Corporation (LH) plan to designate the Wondang Station transfer parking lot near District 4 as the "Goyang Seongsa Urban Regeneration Innovation Zone" and develop public rental housing and various research and industrial support facilities.
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