Public Redevelopment Pilot Projects in Sinwol-dong Area Open for Bids
"Interest in Sinwol-dong Redevelopment Grows Following Approval Notice of Mokdong Line Construction Plan"
[Asia Economy Reporter Onyu Lim] Sinwol Sijeong in Sinwol-dong, Yangcheon-gu, Seoul, has conditionally passed the first safety inspection for reconstruction.
According to Yangcheon-gu Office on the 28th, Sinwol Sijeong received a D grade (49.89 points) in the first detailed safety inspection for reconstruction. The reconstruction safety inspection classification is divided into A~C grades for maintenance and repair (reconstruction not allowed), D grade for conditional reconstruction (public institution verification required), and E grade for confirmed reconstruction. The D grade corresponds to 31-55 points out of 100, and the final pass or fail will be determined through a second detailed safety inspection by public institutions (Korea Institute of Civil Engineering and Building Technology and Korea Facilities Safety Corporation).
Completed in 1988, Sinwol Sijeong is a large complex with a maximum of 12 floors, 20 buildings, and a total of 2,256 households with exclusive areas ranging from 43 to 59㎡. The building coverage ratio and floor area ratio are only 12% and 132%, respectively, which is evaluated as having excellent feasibility for reconstruction projects.
Currently, Sinwol-dong is experiencing a heated atmosphere not only for reconstruction but also for redevelopment. The 1st and 2nd districts of Sinwol 7-dong, where old houses are densely concentrated in Yangcheon-gu, have applied for the public redevelopment pilot project promoted by the government. If selected as a public redevelopment site, incentives such as increased floor area ratio, simplified approval procedures, and exemption from the price ceiling system for sale can be received. The government plans to complete the selection of project sites by early next year.
The revitalization of Sinwol-dong maintenance projects is due to it being considered the biggest beneficiary of the Mokdong Line light rail project. The Mokdong Line light rail project has recently been approved and announced by the government as part of the '2nd Seoul Urban Railway Network Construction Plan,' creating conditions for project promotion. The Mokdong Line is a light rail line connecting Sinwol Station in Yangcheon-gu, Seoul, to Dangsan Station, and once established, it is expected to improve traffic congestion in the Mokdong and Sinwol-dong areas.
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