SH Corporation Designated as Implementer for 'Jangwi 8 District Public Redevelopment Project'

Maximum Floor Area Ratio 300%, 2,848-unit Apartment Complex Planned

Seoul Housing and Communities Corporation (SH Corporation) announced on the 12th that it was designated as the project implementer for the Jangwi 8 District Public Redevelopment Project (housing maintenance-type redevelopment project) in Jangwi-dong, Seongbuk-gu, Seoul on the 10th.

SH Corporation plans to create a multi-family housing complex with up to 300% floor area ratio and 2,848 units in the Jangwi 8 District by reflecting public redevelopment incentives. After forming a residents' representative meeting, SH Corporation will sign an agreement with the residents' representative meeting to implement the project and accelerate the establishment of the project implementation plan.

The Jangwi 8 District was designated as a redevelopment promotion zone on December 28 last year. Since 2022, SH Corporation has been promoting the Seoul City preliminary planning process to establish a project plan that meets public interests as the scheduled project implementer for the Jangwi 8 District, and completed administrative procedures for the designation of the redevelopment promotion zone over about eight months starting from April last year.

Kim Heon-dong, President of SH Corporation, said, “With SH Corporation being designated as the project implementer for the Jangwi 8 District, the project promotion has gained momentum,” and added, “Based on the 35 years of development project experience accumulated by the corporation, we will strive for the success of the Jangwi 8 District project by establishing creative and innovative architectural plans.”

A bird's-eye view of the Jangwi 8 District Public Redevelopment Project in Jangwi-dong, Seongbuk-gu, Seoul. Photo by Seoul Housing & Communities Corporation