Seoul's Small-Scale Housing Maintenance Accelerates... 4 Cases Approved Including Mokdong Street Housing

[Asia Economy Reporter Onyu Lim] The Seoul Metropolitan Government is accelerating the approval process for small-scale housing maintenance projects.

On the 14th, Seoul announced that the Urban Regeneration Committee approved the amendment to the Mokdong street housing maintenance project implementation plan in Yangcheon-gu.

This project, targeting Mokdong 557 and five other parcels, involves 45 owners of old and deteriorated houses forming an association to demolish existing houses and build 85 multi-family housing units. The amendment adjusted the rental housing from the original 18 units of 39㎡ and 6 units of 49㎡ to 17 units of 49㎡.

On the same day, the Urban Regeneration Committee also approved three cases of autonomous housing maintenance project permits, including one in Gusan-dong, Eunpyeong-gu, and two in Ssangmun-dong, Dobong-gu, easing the floor area ratio to the legal maximum.

All these projects planned public rental housing to account for more than 20% of the total floor area, thereby increasing the floor area ratio. The constructed public rental housing will be purchased by the public sector based on the appraised value of the land and buildings combined.

Kim Seungwon, Director of Balanced Development Planning at Seoul City, said, "Small-scale housing maintenance projects will play a central role in improving the environment of aging residential areas."