Planning Work Underway for Redevelopment Plan of Yeonhui-dong 721-6 and Sinwol 7-dong 2 District
Expected to be Finalized in the First Half of Next Year After Seoul City Review
[Asia Economy Reporter Kim Hyemin] Large apartment complexes of 1,000 households in Yeonhui-dong, Seodaemun-gu, and 2,000 households in Sinwol-dong, Yangcheon-gu are being built. These areas had been difficult to redevelop due to geographical challenges and height restrictions. However, after being selected as public redevelopment project sites and gaining momentum, redevelopment plans were prepared in just 1 year and 8 months.
According to the maintenance industry on the 9th, Yeonhui-dong 721-6 and Sinwol 7-dong Zone 2 recently announced the designation of public redevelopment maintenance districts and the establishment of maintenance plans for public inspection, gathering residents' opinions. After the opinion hearing concludes at the end of this month, the final plan will be confirmed following deliberation by the Seoul City Urban Planning Committee. The procedures are expected to be completed in the first half of next year.
Public redevelopment was created with the purpose of improving residential conditions in areas that are aging and require redevelopment but have low project feasibility and thus cannot proceed quickly. It was initiated during the Moon Jae-in administration and is being continued by the current government.
The zones currently undergoing the maintenance plan drafting process are perfect examples fitting the public redevelopment project method. Yeonhui-dong 721-6, consisting of the low-rise, aging Hongyeon Apartment complex and clusters of old villas, is composed of Type 1 General Residential Area and Type 2 General Residential Area (up to 7 floors), which posed many difficulties in project promotion. In particular, there is a highland within the zone with about a 30-meter elevation difference, making redevelopment itself challenging. It was difficult to find alternatives to zoning restrictions and floor limits.
However, after being selected as a public redevelopment target, part of the Type 1 General Residential Area was upgraded to Type 2 General Residential Area, and the floor area ratio was increased to improve project feasibility. This zone is expected to be reborn as a complex with up to 25 floors and 1,024 households.
Sinwol 7-dong Zone 2 also faced redevelopment difficulties due to height restrictions because of its proximity to the airport, but with zoning upgrades and the ability to increase the legal maximum floor area ratio, the project has gained speed. Although the restriction of up to 7 floors in the Type 2 General Residential Area remains due to height limits, it is set to be transformed into a large complex with up to 12 floors and 2,202 households, an increase of 653 households compared to before.
Additionally, Chungcheong-ro Zone 1 in Seodaemun-gu, which has a good location between subway lines 2 and 5, is also undergoing resident opinion procedures for its maintenance plan. This zone will be transformed into a complex with up to 30 floors and 297 households. An industry official said, "Although some zones still have opposition voices, such as the formation of emergency countermeasure committees, as about two years have passed, areas with high resident consent rates will begin to show results one by one."
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