Yongsan Cheongpa 1 District Housing Redevelopment Project Association Establishment Approval in Progress

Cheongpa-dong 2-ga 11-1 Area 32,390㎡... Transformed into a Residential Complex with 7 Buildings, 25 Floors High, 697 Households

Adjacent to Cheongpa-ro Connecting the North End of Wonhyo Bridge and Seoul Station... Elementary, Middle, High Schools, University, and Subway Stations Located Within 500m Radius

Approval Process for Association Establishment After Reviewing Requirements in February

[Asia Economy Reporter Park Jong-il] The establishment of the Cheongpa 1st District Housing Redevelopment Project Association, noted as the first newly designated housing maintenance-type redevelopment zone since 2015, is imminent.

Yongsan-gu (Acting Mayor Kim Seon-su) will review the requirements for establishing the Cheongpa 1st District Housing Redevelopment Project Association, architectural plans, and business plans in February, and if conditions are met, will approve the establishment of the association.

The Cheongpa 1st District Housing Redevelopment Project Association Promotion Committee (hereafter Promotion Committee) held its inaugural general meeting in December last year and submitted the application for association establishment in January this year.

The Cheongpa 1st District covers 32,390㎡ in Cheongpa-dong 2-ga 11-1 area. It is adjacent to Cheongpa-ro, which connects Wonhyo Bridge and Seoul Station, and is located within 350m radius of Sookmyung Women's University Station on Line 4. Within a 500m radius are Cheongpa Elementary School, Shingwang Girls' Middle and High School, and Sookmyung Women's University, providing excellent educational conditions.

According to the architectural plan submitted by the Promotion Committee, the Cheongpa 1st District will be transformed into apartments, auxiliary welfare facilities, and neighborhood living facilities.

The total number of households is 697. The exclusive area is divided as follows: ▲39㎡ - 60 units ▲49㎡ - 112 units ▲59㎡ - 250 units ▲84㎡ - 187 units ▲110㎡ - 50 units ▲114㎡ - 38 units. The total number of parking spaces is 1,089, with 6 spaces above ground and the rest located underground.

The district office will review ▲confirmation of association members and adequacy of consent rates for association establishment ▲association bylaws and background checks of association executives ▲architectural plans, business plans, and other submitted documents, and will approve the association establishment in February. However, if requirements are insufficient, the approval date may be delayed for supplementation.

Acting Mayor Kim Seon-su said, “Residents of Cheongpa-dong have experienced inconveniences such as narrow roads and lack of parking spaces despite excellent transportation and educational conditions. We will provide administrative support for redevelopment so that residents can live in a better environment.”

The Cheongpa 1st District was designated as a maintenance planned zone in June 2004 under Seoul Metropolitan Government Notice No. 2004-204. Although a promotion committee was formed in 2005, the project stalled repeatedly due to failure to secure access roads. However, after being designated as a housing maintenance-type redevelopment zone by the city in July last year, the project has now entered the main track.

The city expanded the maintenance planned zone area from the existing 27,000㎡ to 32,000㎡ and decided on a floor area ratio of up to 249.98% and a height of 25 floors. Considering the area's proximity to universities and subway stations, the plan includes securing small-sized housing reflecting demand from 1-2 person households, an underground public parking lot (133 spaces) to alleviate parking difficulties in surrounding low-rise residential areas, landscaping and rest areas, and public pedestrian pathways within the complex.