Gwangju Gyelim 3 District Redevelopment Project Gains 'Momentum'

'Non-resident Ratio' Issue Resolved... Parking Lot Expansion Planned

Reapplication for Project Approval, Expected Completion as Early as November

The redevelopment project of Gyerim 3 District in Dong-gu, Gwangju Metropolitan City has gained momentum. The major obstacle, the issue of the 'non-residential area ratio,' has been resolved for the time being, bringing the project approval within reach.

According to the Gyerim 3 District Urban Environment Maintenance Project Association (Chairman Kim Hyung-guk) on the 21st, they have withdrawn the plan to create storage for each household and submitted a revised project implementation plan to expand the parking lot in the commercial building, and related procedures are underway.

This is to meet the 'mandatory non-residential area ratio' required to obtain the crucial project implementation approval. According to Gwangju city ordinances, when constructing a mixed-use residential and commercial building in a general commercial area, a mandatory ratio of 15% must be maintained.

The amendment includes expanding the parking lot in the commercial building from the existing three basement floors (total floor area 19,478㎡) to four basement floors (35,228㎡).

Currently, due to the design changes, a re-evaluation of the traffic impact assessment is underway, and some architectural reviews are in progress due to the increase in total floor area.

Once the project approval is granted, the amendment will go through procedures for ratification by the board of directors and the delegates' council.

Following this, schedules remain for commencing appraisal work, applying for member unit sales, establishing the management disposition plan, holding the management disposition general meeting, and applying for approval of the management disposition plan.

An official stated, "There was a difference in opinion with the local government on whether to recognize household storage as non-residential space, and we have consulted multiple times with the responsible officials over this issue," adding, "Currently, the project is progressing smoothly, and both the city hall and district office have expressed their willingness to actively cooperate in the remaining approval procedures."

He continued, "Since we have frequently visited city hall and the district office and repeatedly held consultations, we will do our best to expedite the project implementation approval schedule."

Meanwhile, Hanwha Forena in Gyerim 3 District will be located at 301 Gyerim-dong, Dong-gu, Gwangju Metropolitan City. It will occupy a site area of 58,683㎡ with a usable area of 48,893㎡, applying a building coverage ratio of 24.15% and a floor area ratio of 365.06%. The complex will consist of 10 buildings ranging from four basement floors to a maximum of 39 above-ground floors, housing 1,376 units.