[Asia Economy Reporter Minyoung Kim] Sangbong Terminal in Sangbong-dong, Jungnang-gu, Seoul will be transformed into a 49-story mixed-use residential and commercial complex by 2027.
On the 14th, Seoul City announced that at the 8th Architecture Committee meeting held on the 12th, the architectural review plan for the 'Sangbong 9 Redevelopment Promotion Zone (around 83-1 Sangbong-dong, Jungnang-gu)' redevelopment project was approved.
With this approval, a community-type mixed-use complex with a total floor area of 289,902.44㎡ and 8 basement floors to 49 above-ground floors will be constructed in the area. It will include 999 apartment units, 308 officetel units, retail facilities (15,739.94㎡), cultural and assembly facilities (240.98㎡), and neighborhood living facilities (279.28㎡). After obtaining the project implementation plan approval in December, construction is scheduled to begin in 2024 and be completed by 2027.
The lower floors (basement 1 to 2nd floor) will be arranged with commercial, cultural, and assembly facilities centered around a public pedestrian passage. The upper floors (3rd to 49th floor) will house 999 apartment units of various sizes and 308 officetel units. This includes 197 public housing units.
Sangbong Terminal, a comprehensive bus terminal completed in August 1985, has seen a reduction in its bus terminal functions and aging facilities recently, leading to a consistent call for redevelopment.
Following the Sangbong 9-1 Preservation Management Zone mixed-use residential project in January this year, the approval of the Sangbong Terminal redevelopment project’s architectural review is expected by the city to revitalize the stagnant local commercial district.
Lee Jin-hyung, Director of Housing Supply Planning at Seoul City, said, "We will continue to swiftly supply high-quality apartments to citizens while implementing housing policies that promote coexistence among residents through active social mix (mixed placement)."
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