Jongno-gu, Jung-gu, Gangbuk-gu, etc.
Linked with 'Human Town 2.0' Project
Up to 37.5 Billion KRW Support per Region
Seoul City announced on the 26th that four areas within the city have been selected as 'New:Village Leading Project' zones to support the supply of non-apartment housing in aging low-rise residential areas.
The New:Village project is a Ministry of Land, Infrastructure and Transport initiative that provides a package of financial and institutional incentives along with public infrastructure and convenience facility installation when the private sector renovates housing in aging detached house and villa (multi-family and row house) neighborhoods where full redevelopment or reconstruction is difficult.
The areas selected as New:Village project sites in Seoul are 214 Sinyeong-dong, Jongno-gu; 47 Ok-in-dong, Jongno-gu; 164 Hoehyeon-dong 1-ga, Jung-gu; and the area around 516-21 Suyu-dong, Gangbuk-gu. Related statutory plans will be established by the first half of next year, and the project will commence in earnest.
If selected as a New:Village project site, up to 37.5 billion KRW (15 billion KRW in national funds) can be supported per area for the creation of apartment-level infrastructure and convenience facilities such as parking lots, roads, and complex convenience facilities. When residents renovate their homes, financial and institutional support such as floor area ratio relaxation and fund loans will be provided.
These four locations are pilot project sites (214 Sinyeong-dong, Jongno-gu) or candidate sites (47 Ok-in-dong, Jongno-gu; 164 Hoehyeon-dong 1-ga, Jung-gu; 516-21 Suyu-dong, Gangbuk-gu) for Seoul City's 'Human Town 2.0' initiative. The city is promoting the Human Town 2.0 project to improve residential environments by supporting non-apartment individual constructions such as new construction and remodeling of multi-family, multi-unit, and urban-type residential housing in aging low-rise residential areas where redevelopment is difficult, along with the creation of infrastructure such as parking lots. Prior to the New:Village project call for proposals, the city selected 10 candidate sites by inviting autonomous districts to apply for the Human Town 2.0 project in October.
The city plans to provide multifaceted support for private housing renovations in the four selected New:Village project sites in connection with the Human Town 2.0 project. When new construction or remodeling occurs in Human Town 2.0 project sites, various building standards will be relaxed, including designation as special building zones, and financial support such as expert architectural consultation and interest differential compensation will be provided. A Moa Center (village management office) will be established to comprehensively provide housing and village management services.
Meanwhile, Seoul City is diligently carrying out related procedures to expedite the project, including designating 214 Sinyeong-dong, Jongno-gu, the pilot site of Human Town 2.0, as the first non-apartment special building zone.
Han Byung-yong, Director of the Seoul City Housing Office, said, “We will actively support housing renovations by linking the Human Town 2.0 project with the New:Village project and strive to stabilize housing for low-income residents,” adding, “We will expand the Human Town 2.0 project to drastically improve the environment of aging low-rise residential areas that are development blind spots.”
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