Seoul City Selects 25 Candidates for Rapid Integrated Redevelopment
"Supporting a Total of 46 Sites for Smooth Project Progress"
Seoul Mayor Oh Se-hoon and National Assembly member Choi Jae-hyung are visiting the Changsin and Sungin areas in Jongno-gu, Seoul, which are private redevelopment candidate sites through the "Rapid Integration Planning," and are engaging in conversations with residents on the 21st. Photo by Kim Hyun-min kimhyun81@
[Asia Economy Reporter Lim On-yu] Changsin 9 District in Jongno-gu, Seogye-dong Integrated District in Yongsan-gu, Jayang 4-dong Integrated District in Gwangjin-gu, the area around 791-2882 Mia-dong in Gangbuk-gu, Sangdo 15 District in Dongjak-gu, and Sillim 5 District in Gwanak-gu have been selected as new candidates for the Rapid Integrated Planning project.
On the 29th, the Seoul Metropolitan Government held the '2022 Rapid Integrated Planning Housing Redevelopment Candidate Selection Committee' and announced the final 25 selected candidate sites.
The candidates include Changsin 9 District and Changsin 10 District in Jongno-gu, Seogye-dong Integrated District in Yongsan-gu, the area around 293 Sageun-dong in Seongdong-gu, Jayang 4-dong Integrated District in Gwangjin-gu, Yongdu 3 District and Gande-me Park in Dongdaemun-gu, Sangbong 13 District in Jungnang-gu, the areas around 3-10 Jongam-dong and 62-1 Seokgwan-dong in Seongbuk-gu, the areas around 441-3 Beon-dong and 791-2882 Mia-dong in Gangbuk-gu, Banghak 3 District in Dobong-gu, Sanse Village and Pyeonbaek Village in Eunpyeong-gu, the area around 337-8 Namgajwa 2-dong in Seodaemun-gu, the area around 232 Mok 2-dong in Yangcheon-gu, the areas around 253 Gocheok-dong and Garibong Central 1 District in Guro-gu, Doksan Siheung District in Geumcheon-gu, Daerim 1 District in Yeongdeungpo-gu, Sadang 4-dong and Sangdo 15 District in Dongjak-gu, Sillim 5 District in Gwanak-gu, and Macheon 2 District in Songpa-gu.
Accordingly, the total number of Rapid Integrated Redevelopment candidate sites selected through the public contest, including the 21 sites selected in the first round last year, has reached 46.
Although the number of application districts for this year's contest (75) decreased somewhat compared to the first round last year (102), the number of districts recommended by autonomous districts for review was similar (59 in the first round, 51 in the second round).
Maintenance Plan to be Established Next Year, District Designation in 2024... Expected Supply of About 30,000 Households
The selected districts will begin 'maintenance plan establishment services' by each autonomous district early next year, concurrently with the Rapid Integrated Planning. The Rapid Integrated Planning will be completed within next year, and district designation will proceed sequentially from 2024. Upon completion of the redevelopment projects in the candidate sites selected this year, approximately 34,000 housing units are expected to be supplied within Seoul.
The selection committee comprehensively reviewed quantitative evaluation scores based on the announced selection criteria, balanced distribution among autonomous districts, district characteristics, resident trends, and speculation trends. In particular, the proportion of semi-basement houses vulnerable to safety and flood history were given top priority. When announcing the public contest in August, Seoul City stated that areas urgently needing maintenance, such as 'residential environment vulnerable areas' that lower citizens' quality of life and threaten safety, would be prioritized. In the evaluation, areas with frequent flood damage records or a high proportion of semi-basement houses were awarded up to 5 additional points per category.
As redevelopment projects applying Rapid Integrated Planning are activated, issues such as share splitting to increase pre-sale rights and pre-sale fraud caused by the proliferation of new villas have emerged. Therefore, Seoul City plans to implement thorough 'anti-speculation measures' not only in the selected candidate districts but also in non-selected districts.
Anti-Speculation Measures Including Land Transaction Permission Zones to be Implemented; Check the Rights Assessment Reference Date
Anti-speculation measures will be implemented through ① announcement of the rights assessment reference date, ② designation of land transaction permission zones, and ③ restrictions on building permits.
First, to prevent 'share splitting' aimed at increasing pre-sale rights, the city announced January 28 of this year as the rights assessment reference date, as guided during the first public contest announcement last year, and calculates the rights to purchase buildings based on the following day. The city emphasized that houses without ownership secured by the day after the rights assessment reference date will have no occupancy rights and will be subject to 'cash settlement,' so special caution is needed when trading multi-family new buildings.
Second, to prevent speculative transactions such as gap investment (investment for price difference), the selected candidate sites will be designated as 'land transaction permission zones.' In these zones, transactions of land above a certain size (6㎡ or more in residential areas, etc.) require permission from the district office chief.
Third, building permits will be restricted to prevent uneconomical new construction activities and pre-sale fraud, ensuring smooth progress of maintenance projects.
Yoo Chang-su, Director of Housing Policy at Seoul City, said, "We will spare no administrative support to ensure that the total of 46 candidate sites selected through two public contests last year and this year can proceed smoothly, starting with the rapid establishment of maintenance plans."
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