Secured 4.5 Billion Won in National and City Funds to Build 48 Village Parking Spaces to Alleviate Residential Parking Shortage
[Asia Economy Reporter Jongil Park] The area around 297-28 Myeonmok-dong in Jungnang-gu (Mayor Ryoo Kyung-gi) has achieved the great success of being finally selected as a target site for the Ministry of Land, Infrastructure and Transport’s Urban Regeneration Recognition Project.
With the selection as a ‘Urban Regeneration Recognition Project Target Site’ linked to the autonomous housing maintenance project, the district secured 4.5 billion KRW in national and city funds necessary for building a village parking lot with 48 spaces, which will greatly help solve the long-standing parking difficulties in the residential area of Myeonmokbon-dong residents.
◇Urban Regeneration Recognition Project= A new type of urban regeneration project implemented since November 2019 under the revised Urban Regeneration Special Act. It is a small-scale unit project carried out within the area where the urban regeneration strategic plan is established. It has the advantage of rapid project progress and the ability to experience urban regeneration effects in a short period.
The selected site at 297-28 Myeonmok-dong is a location where old row houses and multi-family houses over 30 years old stood. Through building maintenance, 60 rental housing units for newlyweds and young people (1st to 7th floors above ground) are planned, and the 1st to 2nd basement floors will be arranged as a village parking lot for residents.
The district expects that this project will not only solve the chronic parking problem but also create a safe and pleasant residential environment, generate new jobs through public rental housing and parking lot management personnel, and revitalize the local economy linked to nearby commercial districts, resulting in significant social and economic effects.
Notably, during the Ministry of Land, Infrastructure and Transport’s review process, it was recognized as the first case nationwide to validate the feasibility of linking the autonomous housing maintenance project with the urban regeneration recognition project.
Since May, the district has continuously consulted with related organizations such as the Ministry of Land, Infrastructure and Transport, Seoul City, and Korea Land and Housing Corporation (LH) to secure this project selection, and after about seven months of effort, it has borne fruit.
Meanwhile, the Myeonmokbon-dong village parking lot, built as part of the urban regeneration recognition project, is expected to be operational after the second half of 2021.
Parking fees will be 50,000 KRW for a monthly subscription and 1,200 KRW per hour. The parking lot will operate 24/7, 365 days a year through an unmanned control system, and it will mainly operate with monthly subscription parking permits for local residents.
Ryoo Kyung-gi, Mayor of Jungnang-gu, said, “This urban regeneration recognition project is the result of collaborative efforts among residents, Jungnang-gu, Seoul City, Korea Land and Housing Corporation (LH), and all stakeholders. As this is the first time in Seoul that LH Corporation and a local government have joined forces to secure living SOC facilities, it is expected to serve as a stepping stone for expanding this type of urban regeneration recognition project to all autonomous districts in Seoul.” He added, “We will continue to actively discover and support urban regeneration project sites that residents can feel and that can resolve residents’ inconveniences.”
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