Jungnang-gu Selected as the First Nationwide Urban Regeneration Recognition Project Linked to Autonomous Housing Maintenance Project

Results of the 8th Seoul Urban Regeneration Committee Meeting on the 25th: Conditional Approval of Project Plan... First in the Nation to Legally Recognize Urban Regeneration Project Linked with Autonomous Housing Maintenance, Securing 4.5 Billion KRW National Funding, Building 48 Village Parking Spaces with Total Budget of 5.9 Billion KRW for Local Residents

[Asia Economy Reporter Park Jong-il] The urban regeneration recognition project linked with the autonomous housing maintenance project in the Myeonmok-dong area has been selected as the first of its kind nationwide, gaining legal validity.

Through this project, 48 village parking spaces will be established, significantly helping to alleviate the long-standing parking difficulties in residential areas for residents of Myeonmokbon-dong.

Jungnang-gu (Mayor Ryu Gyeong-gi) announced on the 25th that the ‘urban regeneration recognition project’ in the Myeonmok-dong area was finally approved (conditionally passed) following the 8th Seoul Urban Regeneration Committee meeting.

An urban regeneration recognition project is a small-scale, point-based regeneration project carried out within an urban regeneration strategic plan area. While urban regeneration projects typically require separate designation of urban regeneration activation areas and the establishment of activation plans, recognition projects can proceed with only the local urban regeneration committee’s review of the project plan, omitting these procedures. (Faster project speed, quicker tangible regeneration effects)

With the autonomous housing maintenance project at Myeonmok-dong 297-28, a mixed-use apartment complex with a parking lot ranging from two basement levels to seven floors above ground will be constructed. The above-ground floors (1st to 7th) will be supplied by the Korea Land and Housing Corporation as public rental housing (60 units, with 37 attached parking spaces) for youth and newlyweds, while the underground floors (B1 to B2) will be purchased by Jungnang-gu and operated publicly as a village parking lot (48 spaces) for local residents. Each facility will have separate entrances and be managed independently.

The project site is located in a hilly area densely populated with old row houses and multi-family homes, suffering from chronic parking shortages due to insufficient access roads and parking spaces. The operation of the village parking lot is expected to not only resolve parking difficulties but also create jobs through facility management personnel employment and revitalize nearby commercial areas by improving accessibility, generating significant social and economic ripple effects.

The village parking lot is currently under construction, aiming for completion in February next year and operation starting in April. Parking fees will be 50,000 KRW for a monthly subscription and 1,200 KRW per hour, with an unmanned control system installed to operate 24/7, 365 days a year. The district plans to operate the village parking lot mainly with monthly subscription parking permits prioritized for local residents.

Since May last year, the district has continuously consulted with related organizations such as the Ministry of Land, Infrastructure and Transport, Seoul City, and the Korea Land and Housing Corporation to gain recognition for this project. In December, it was selected for the Ministry of Land, Infrastructure and Transport’s Urban Regeneration New Deal project. After about a year and a half of effort, 4.5 billion KRW, accounting for 75% of the approximately 5.9 billion KRW required to purchase the village parking lot, has been secured from national and city funds.

Jungnang-gu Mayor Ryu Gyeong-gi said, “This small-scale housing maintenance project will renovate old houses, support housing welfare for youth and newlyweds, and create a village parking lot as a customized living SOC, expecting a triple effect,” adding, “As this is the first project of its kind nationwide, we will carefully manage it to become a good advanced case of urban regeneration recognition projects.”