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Up to 5,580 Households to Be Developed on a 241,602㎡ Site in Hwagok 2-dong, Gangseo-gu

[Seoul District News] Kim Tae-woo, Mayor of Gangseo-gu, 1st Pledge 'Hwagok Also Becomes Magok' Expected to Play a Catalyst Role

Up to 5,580 Households to Be Developed on a 241,602㎡ Site in Hwagok 2-dong, Gangseo-gu Panoramic View of the Hwagok-dong Area

[Asia Economy Reporter Jongil Park] Gangseo-gu, Seoul (Mayor Kim Tae-woo) announced that a 241,602㎡ site near the Hwagog 2-dong Community Center has been finally selected as a candidate site for the 9th Urban Public Housing Complex Project announced by the Ministry of Land, Infrastructure and Transport.


The Urban Public Housing Complex Project is a housing supply model introduced through the government’s “Public-led 3080+ Housing Supply Expansion Plan” announced in February last year. It is a project that supplies large-scale housing in a short period by high-density development of aging areas in the city center led by the public sector.


The Ministry of Land, Infrastructure and Transport finally selected three sites as the 9th candidate sites, including the area near Hwagog 2-dong Community Center in Gangseo-gu.


The candidate site near Hwagog 2-dong Community Center is the largest area among the 79 candidate sites announced over nine rounds, and the supply volume is also the largest ever.


Accordingly, the candidate site near Hwagog 2-dong Community Center, a low-rise residential area with poor living conditions, is expected to supply 5,580 housing units on a large-scale site of 241,602㎡ through various regulatory relaxations such as zoning upgrades and floor area ratio easing.


The area had been practically stalled since it was announced as a candidate site through the Housing Supply Expansion Task Force in October last year due to reviews by related agencies.


Since taking office, Mayor Kim Tae-woo has held several consultations with related agencies and continuously requested the Seoul Metropolitan Government and the Ministry of Land, Infrastructure and Transport to ensure the candidate site’s final selection.


The district explained that the strong willingness of residents for the project was a key factor in the final selection of the candidate site, achieving a resident consent rate of 72%, far exceeding the mandatory 67% (two-thirds of owners) required for designation. It added that public-private cooperation will continue to ensure smooth project progress.


It also explained that this project will serve as a catalyst to realize Mayor Kim’s first pledge, “Hwagog also becomes Magok,” and especially, connected with the National Assembly Boulevard upper park, which is eight times the size of Seoul Plaza right in front of the candidate site, it will become a landmark of Gangseo-gu as a “high-quality balanced city where the old downtown is revived” and a new green belt of Seoul.


Mayor Kim Tae-woo said, “The final selection of the candidate site is just the beginning, and there are many challenges ahead, but since the residents’ desire for balanced regional development is strong, we will mobilize all possible resources to ensure that subsequent procedures proceed smoothly and quickly. With the power of 570,000 Gangseo residents, we will surely fulfill the promise that ‘Hwagog also becomes Magok.’”


In August, the district reorganized its organization by establishing the “Old Downtown Development Team” and “Moatown Team” to improve the residential environment of the old downtown, whose central functions declined due to the development of the Magok district. Starting from January next year, the newly established Old Downtown Development Promotion Group will be fully activated, and together with the public, private, and expert triangular alliance, it plans to promote projects to improve the deteriorated residential environment and restore urban functions in the old downtown.


© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

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