[Asia Economy Reporter Onyu Lim] Seoul City announced on the 1st that it will build youth housing and parking lots on an abandoned site within Garibong Market in Guro-gu.
The site covers an area of 3,708.2㎡. In 1997, buildings were demolished for reconstruction, but the project was halted due to the International Monetary Fund (IMF) crisis and the bankruptcy of the construction company. Since then, the site has been used as a private parking lot and a junkyard.
After being selected in May 2019 for the "Traditional Market Parking Environment Improvement Project" led by the Ministry of SMEs and Startups, a project plan for youth housing and parking lots was established.
The city plans to build a complex building on this land by 2023, with three basement floors, 12 above-ground floors, and a total floor area of 17,829.69㎡.
Floors 3 to 12 above ground will have 246 Happy Housing units for youth, and the basement will have a public parking lot with 186 spaces. The lower floors above ground will include convenience facilities such as a market customer support center and a childcare support center.
Guro-gu has granted free use of the site, which is public land, and Seoul City and Seoul Housing & Communities Corporation (SH Corporation) will bear the project costs. The design and construction will be carried out by private companies under a "private participation public housing project" method.
Kim Seong-bo, head of the Housing and Architecture Headquarters of Seoul City, said, "Seoul City is promoting public housing complex development that can expand housing supply and local convenience facilities," adding, "We will supply high-quality public housing."
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