Development of Landmark in Noryangjin Area on Dongjak-gu Government Site... Developer Recruitment Announced

Development Operator to Lead Local Economic Revitalization by Utilizing Former Government Office Site? Open Call Until May 21

Dongjak-gu (Mayor Park Il-ha) announced that it will invite private developers to participate in the 'Noryangjin Area Landmark Development Project' utilizing the current Dongjak-gu office site until May 21.

The district plans to recruit developers and, through sale, guide the development of the current office site (Noryangjin-dong 47-2) into a new growth core area befitting the location near Noryangjin Station, thereby leading the sustainable growth of the local economy.

The district is promoting the 'New Office Building Project' to newly construct and relocate the Dongjak-gu office from Noryangjin to the Jangseungbaegi area (Sangdo-dong 176-3), with completion scheduled for August.

Originally, the new office building was to be constructed by LH, and the current office site was planned to be transferred to LH as an in-kind payment for development mainly focused on housing. However, the district recognized that the current office site, a commercial area, is the last available site that can be utilized for revitalizing and growing the local economy.

Furthermore, the Noryangjin area is planned to have a large-scale residential complex of 9,264 households and 2,799 youth housing units.

Accordingly, under the 8th elected administration, Dongjak-gu has continuously negotiated with LH to change the settlement method for the new office building project from in-kind payment to cash settlement, aiming to develop Noryangjin into a future growth hub that will drive the development of Dongjak-gu beyond Noryangjin through private development.

The project site is approximately 2,700 pyeong (8,941㎡), and applications are possible in the form of a consortium including foreign-invested companies.

Developers wishing to participate in the bid must visit the Dongjak-gu Office Core Policy Promotion Team by March 21 to submit a letter of intent to participate. After a selection review committee in June, a preferred negotiation partner will be selected, and the development will be finalized.

Detailed information related to this can be found on the notice and announcement board on the Dongjak-gu Office website.

Mayor Park Il-ha of Dongjak-gu said, “We hope many capable developers who will contribute to the development of not only Noryangjin but the entire Dongjak-gu will participate,” adding, “We will lead changes in the Dongjak-gu map through the establishment of a landmark with various functions such as education and commerce.”