SH Corporation Officially Begins Redevelopment of Aging Rental Apartments Hagye 5 and Sanggye Madeul

Summer Complex 5 Briefing on 29th, Sangye Madeul Complex Briefing on 30th
Temporary Relocation Rent Standards for Residents Also Established

Seoul Housing and Communities Corporation (SH) is set to actively promote the redevelopment projects of the aging rental complexes Hagye 5-danji and Sanggye Madeul-danji.

Before and After Redevelopment of Summer Complex 5 (Current and Bird's-eye View) (Photo by SH Corporation)

On the 28th, SH announced that it will hold resident briefings for tenants of the aging rental redevelopment pilot sites. The briefings will be held on the 29th for Hagye 5-danji and on the 30th for Sanggye Madeul-danji, where the redevelopment project overview, schedule, relocation measures and support plans, and architectural outlines will be provided.

The aging rental redevelopment project involves demolishing old rental apartment complexes and redeveloping them with high-density development to supply residential spaces and local infrastructure (SOC). SH has designated these two complexes as pilot project districts and is advancing the projects accordingly.

Hagye 5-danji and Sanggye Madeul-danji, which were completed over 30 years ago, suffer from aging buildings, lack of elevators, and insufficient communal facilities, causing inconvenience to residents. In response, SH plans to increase the zoning designation for high-density and high-rise development and build high-quality rental housing by upgrading materials.

Comparison of Sanggye Madeul Before (Current) and After Redevelopment (Rendering) (Photo by SH Corporation)

SH has also established the 'Temporary Relocation Rental Fee Standard for Aging Rental Redevelopment Pilot Projects' to allow residents of Hagye 5-danji and Sanggye Madeul-danji to live in temporary relocation housing while maintaining their existing rental fees.

Last month, SH conducted a survey among residents of the pilot project complexes to gather opinions on relocation measures. Through these resident briefings, SH plans to actively communicate with residents and listen to their feedback on the overall redevelopment project.

Kim Heon-dong, President of SH, stated, "The aging rental redevelopment project goes beyond improving outdated facilities; it aims to establish new landmarks in the area and revitalize the city. The corporation will do its utmost to successfully carry out the redevelopment projects of the pilot sites, Hagye 5-danji and Sanggye Madeul-danji."