Secured 32.7 Billion KRW in National and City Funds Utilizing Retention Ponds, Constructing 3 Public Parking Lots, Starting December... Improving Parking Conditions and Economic Vitality in Severe Parking Shortage Areas Near Traditional Markets Through Increased Influx Population
[Asia Economy Reporter Jongil Park] Seongdong-gu (Mayor Jeong Won-oh) is starting a large-scale public parking lot construction project in the Ttukseom, Majang-dong, and Oksu-dong areas with a total investment of 32.7 billion KRW.
Seongdong-gu has secured project funds including national and city subsidies to alleviate parking difficulties in residential areas and create a pleasant parking environment. The district has actively promoted public parking lot attraction projects by reducing land acquisition costs through various space utilizations such as securing retention ponds.
As a result, the construction of public parking lots at three locations?Ttukseom Retention Pond, Majang Livestock Market, and Oksu Retention Pond?has been confirmed, with construction starting in December.
First, the Ttukseom Retention Pond public parking lot will be a flat-type parking lot built by installing a covering structure over the retention pond, which experiences flooding issues during heavy rain, located in Seongsu-dong 1-ga 685-63, covering an area of 14,112㎡.
With an investment of 8.5 billion KRW from the national government, 5.2 billion KRW from the city, and 3.4 billion KRW from the district, the project will create 342 flat-type parking spaces on the ground, along with natural landscaping and management facilities under the retention pond, making it an eco-friendly parking lot. It was selected last year as part of the Ministry of Land, Infrastructure and Transport’s Living SOC project along with the Ttukseom Retention Pond Complex Cultural Center, and construction is scheduled to begin in early December aiming for completion in December 2021.
The district will also start construction of a five-story public parking lot on the embankment area along Cheonggyecheon near Majang Livestock Market, at Majang-dong 525. This site was selected in 2019 as part of the Ministry of SMEs and Startups’ parking environment improvement contest to address the congested parking situation caused by large trucks around the livestock market and to improve the surrounding environment. With an investment of 8.2 billion KRW from the national government, 8.5 billion KRW from the city, and 2.2 billion KRW from the district, 117 parking spaces will be created from the 1st to 5th floors, and urban regeneration facilities will be installed on the 2nd to 4th floors. Completion is expected in September 2021.
A district official said, “The Majang Livestock Market public parking lot was promoted to improve the poor parking environment caused by roadside and illegal parking for merchants and visitors of the Majang Livestock Market and to revitalize the market. It is expected to be developed as a regional hub complex facility linked with urban regeneration anchor facilities.”
Additionally, the Oksu Retention Pond public parking lot, aimed at improving traffic congestion around Oksu Station, will be constructed through covering works within the Oksu Rainwater Pump Station site at Oksu-dong 77-3.
The total project cost is 3.4 billion KRW, covering an area of 1,316.72㎡ with 47 flat parking spaces. Construction will begin in December and is scheduled for completion in December 2021. It is expected to greatly contribute to improving the traffic environment in the Kumho and Oksu areas, which are emerging as premium residential districts, and to alleviate parking difficulties in the densely populated residential areas nearby.
Jeong Won-oh, Mayor of Seongdong-gu, said, “To solve the major regional issue of parking, we will proceed with the currently ongoing parking lot expansion projects without delay. We will also do our best to create a Seongdong-gu without parking inconveniences by continuously expanding parking sharing projects through organic cooperation with the private sector and continuously constructing public parking lots.”
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