Seoul City to Supply 3,541 Units in Imun 4 District... Daechi Useong 1st Reconstruction

Imun 4 District Redevelopment, Up to 40 Floors with 3,541 Households Supplied

Daechi Woosung 1st, Reconstruction from Basement 4 to Ground 35 Floors with 712 Households

Geumcheon Daehan Cable Site, 990 Apartment Units Developed

Perspective view of the redevelopment project in Imun 4, Dongdaemun-gu redevelopment promotion zone

[Asia Economy Reporter Kim Min-young] Seoul City will supply a total of 5,243 apartment units, including rental housing, in Imun-dong, Dongdaemun-gu; Siheung-dong, Geumcheon-gu; and Daechi-dong, Gangnam-gu.

On the 28th, Seoul City held the 19th Architectural Committee meeting and approved architectural plans for three projects: △ Imun 4 Redevelopment Promotion Zone in Dongdaemun-gu △ Daehan Cable Site Special Planning Zone Housing Construction Project in Geumcheon-gu △ Daechi Woosung 1st Apartment Reconstruction Project in Gangnam-gu.

With the approval of these architectural plans, a total of 5,243 apartment units will be supplied across the three areas, including 1,044 rental units and 4,199 sale units. Notably, among the rental housing, 355 units of medium-sized long-term lease housing are included, designed for newlyweds to raise children and continue living there.

First, in the Imun 4 Redevelopment Promotion Zone in Dongdaemun-gu, a total of 3,541 units will be supplied, with 830 rental units and 2,711 sale units. Among the rental units, 570 will be Happy Housing and 260 will be long-term lease housing.

The redevelopment site is located between Hyehwa University Station and Sinimun Station on Subway Line 1, a key transportation hub. Seoul City explained that a large-scale apartment complex with up to 40 floors and neighborhood living facilities will be developed. For Building 301 adjacent to a park, through design competitions and other measures, the actual usable area will be increased to over 25㎡ to improve the negative perception of existing rental housing.

At the Daehan Cable Site in Geumcheon-gu, a total of 990 units will be supplied, including 128 rental units and 862 sale units. Among the rental units, 76 will be Happy Housing for young workers and 52 will be long-term lease housing for 3-4 person households.

The Daechi Woosung 1st Apartment in Gangnam-gu will supply a total of 712 units through reconstruction, with 86 rental units and 626 sale units. Among the rental units, 43 will be Happy Housing and 43 will be long-term lease housing.

This reconstruction project will move away from the existing closed complex layout by removing fences and installing community facilities such as a small library and a shared care center along Yeongdong-daero for local residents.

Kim Seong-bo, Director of Seoul City's Housing Policy Office, said, "Seoul City will continue to stabilize the housing market quickly through continuous housing supply, while also sufficiently providing sustainable and quality rental housing such as long-term lease housing to alleviate housing difficulties for low-income residents."