Seoul City Public Reconstruction Undergoes Preliminary Planning
Application of Profitability Adjustment Factor, Profitability Improvement
The Mangwoo 1 District in Jungnang-gu, Seoul, which is promoting public reconstruction, is accelerating the project through Seoul City's preliminary planning.
On the 26th, the city held the 12th Urban Planning Committee meeting and announced on the 27th that the agenda for the "Mangwoo 1 Public Reconstruction Maintenance Plan Decision" was approved with modifications. Located around 178-1 Mangwoo-dong, the Mangwoo 1 District was designated as a housing reconstruction project in 2011 but faced long-term difficulties in project promotion due to lack of profitability.
This time, the maintenance plan was reestablished through the city's public reconstruction project preliminary planning advisory meeting. By applying a "profitability correction factor of 2.0," the project's profitability was significantly improved compared to before. The zoning was upgraded from Type 2 General Residential Area (7 floors) to Type 3 General Residential Area, and the floor area ratio increased from 227% to 271%. Additionally, the maximum number of floors rose from 13 to 25, and the number of households increased from 420 to 581.
Furthermore, necessary public parking lots, lifelong learning centers, and public pedestrian pathways will be created in the area, and the shapes, layouts, and number of floors of the main buildings will be diversified to create excellent landscapes.
The Mangwoo 1 District public reconstruction project is expected to be fully promoted after the maintenance plan reflecting the approved modifications is announced, and the architectural plan is finalized through integrated reviews (architecture, traffic, education, etc.).
Han Byung-yong, Director of the Housing Office of Seoul City, stated, "We expect that maintenance projects with low profitability, like Mangwoo 1 District, will secure profitability and be swiftly promoted through the '2030 Urban and Residential Environment Maintenance Basic Plan' and other measures."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
