LH Announces Bid for Selection of Contractor for Newly Established District 1 Public Redevelopment Project

Korea Land and Housing Corporation (LH) announced on the 24th that it will hold a contractor selection announcement for the Sinseol 1 District public redevelopment project in Dongdaemun-gu, Seoul.

Sinseol 1 District is located at 92-5 Sinseol-dong, Dongdaemun-gu, Seoul, and has been a long-stagnant area since being designated as a maintenance zone in 2008. However, through continuous consultations among local residents, LH, and local governments, a resident consent rate was secured within six months of site selection, and LH was designated as the project implementer in July 2021. It is the fastest progressing site among the public redevelopment districts promoted by LH.

Announcement of contractor selection for the public redevelopment project in Sinseol 1 District, Dongdaemun-gu, Seoul.
[Photo provided by LH]

In particular, through urban regulation relaxation for the public redevelopment project, a floor area ratio of 299.50% will be applied to the project site of approximately 11,000㎡. It is planned to be transformed into a high-quality residential complex with a maximum height of 25 floors, including four residential buildings and commercial spaces, totaling 299 households, which is an increase of 130 households compared to the original maintenance plan of 169 households.

Once the contractor selection process for Sinseol 1 District is completed, administrative procedures such as project implementation plan approval and management disposition plan approval will follow, aiming to start construction in 2025.

Bids will be accepted until 16:00 on April 13, and the construction period is 36 months from the actual start date of demolition work.

Oh Juheon, head of LH Seoul Regional Headquarters, said, “We will secure a fair competition foundation so that excellent contractors can participate, and under close cooperation among Seoul City, autonomous districts, and residents, we will do our best to supply high-quality housing without any illegal activities occurring during the contractor selection process.”