Seongdong-gu, Majang-dong Moa Town (District 1) Receives First Union Establishment Approval

Consent Rate for Garojutaek Redevelopment Project in Majang-dong 466 Area (Tentatively Majang District 1) Reaches 84% on June 14, Enabling Association Establishment Approval... Remaining 5 Districts to Establish Associations Sequentially, Setting a Precedent for Revitalizing Moa Town Project in Seongdong-gu

Moatown District 1

Seongdong-gu, Seoul (Mayor Jung Won-oh) announced on the 14th that it has granted approval for the establishment of the association for the street housing maintenance project (tentatively named Majang District 1) in the Majang-dong 466 area, the first among the Moa Town target sites in the region.

Moa Town is a small-scale maintenance model promoted by Seoul City that combines old low-rise residential areas where large-scale redevelopment is difficult into one maintenance project. Its promotion procedures are relatively simplified, making the project progress faster than general redevelopment projects.

In Seongdong-gu, Moa Town projects are underway in four locations: ▲ Majang-dong 457 area ▲ Sageun-dong 190-2 area ▲ Eungbong-dong 265 area ▲ Songjeong-dong 97-6 area.

The Majang-dong 457 area has more than 80% of aging buildings and lacks secured parking lots, resulting in poor residential conditions. However, development has been slow due to many dozens of parcels being registered as shared ownership, restricting the exercise of ownership rights.

Therefore, the approval for the establishment of the association for the street housing maintenance project in Majang-dong 466 area, the first in the district, is particularly encouraging.

The street housing maintenance project in Majang-dong 466 area held its inaugural general meeting for association establishment on March 8, where the association bylaws were established and association executives such as the chairman and directors were elected. On April 29, with an 84% consent rate, the application for association establishment approval was submitted to Seongdong-gu Office, and the approval was processed on June 14.

The remaining five districts within the Moa Town in Majang-dong 457 area, where associations have not yet been established, plan to sequentially apply for association establishment approval through their promotion committees.

Meanwhile, consultations are underway with Seoul City for the announcement of the management plan approval for Moa Town in Majang-dong 457 area. Once the management plan approval is announced, the Moa Town project is expected to receive support for the creation of convenience facilities such as parking lots and parks, and construction will be possible with relaxed floor area ratios.

Jung Won-oh, Mayor of Seongdong-gu, said, “We hope that the approval for the establishment of the association for the street housing maintenance project in Majang-dong 466 area will serve as a precedent that leads to the revitalization of the Moa Town projects in Seongdong-gu,” and added, “We will spare no administrative support to ensure that the Moa Town projects currently underway in Seongdong-gu proceed more smoothly.”