Up to 31 Floors and 1,650 Households to Be Developed in Banghak-dong 685 Area Near Banghak Station

Expansion of Sale Units Through Application of Profitability Adjustment Coefficient
Average Union Member Burden Expected to Decrease by 130 Million KRW
Creation of Senior Job Support Facilities and Youth Facilities

An apartment complex with up to 31 floors and 1,650 households will be developed in the area of 685 Banghak-dong near Banghak Station on Line 1. The application of a profitability adjustment coefficient is expected to increase the number of units for sale and reduce the burden on union members.

Location map of Banghak-dong 685 area. Provided by Seoul City

On the 18th, the Seoul Metropolitan Government announced that it held the 1st Urban Planning Committee Rapid Integrated Planning Redevelopment Project and the Authorized Subcommittee meeting, approving the designation of the maintenance area, changes to the maintenance plan, and landscape review for the housing maintenance-type redevelopment project in the area of 685 Banghak-dong. The review applied the business improvement measures included in the '2030 Urban and Residential Environment Maintenance Basic Plan.'

The area of 685 Banghak-dong was selected as a candidate site for rapid integrated planning in December 2022, and after completing the rapid integrated planning in 2024 and going through the maintenance plan drafting process, it was submitted for this review. The target area is densely populated with old low-rise houses, has narrow road networks, and lacks parking spaces and pedestrian-friendly roads. During the maintenance project, the zoning was upgraded from Type 2 (7 floors) general residential area to Type 3 general residential area, transforming the low-rise residential area of 685 Banghak-dong into an apartment complex with up to 31 floors, 13 buildings, and 1,650 households (including 229 rental units).

To improve the poor road system through the maintenance project, a public pedestrian passage will be created. The public pedestrian passage will connect Sindobong Market, Banghak 1-dong Community Center, and other locations. Within the site, facilities supporting senior job opportunities, a northern cultural park, youth facilities above the park, and a public parking lot below the park will be established to solve parking problems in the area and provide public facilities for local residents.

Aerial view of the area around 685 Banghak-dong. Provided by Seoul City.

The area of 685 Banghak-dong has significantly improved profitability compared to the initial rapid integrated planning proposal by applying the profitability adjustment coefficient. By securing small-sized housing, the standard floor area ratio was relaxed from 190% to 210%, and reflecting the profitability adjustment coefficient of 1.93, the allowable floor area ratio was raised from 20% to 38.6%. The maintenance plan floor area ratio was greatly increased from 217.85% to 270.17%. The number of units for sale increased by 140, from 1,211 to 1,351, and the estimated average burden per union member is expected to decrease by about 130 million KRW. The architectural plan and estimated burden may change during the project implementation process.

Choi Jin-seok, Director of the Housing Office of Seoul City, said, "We planned to enhance residents' quality of life by creating necessary local facilities and to invigorate both inside and outside the complex," adding, "We will actively support the transformation of the Banghak-dong area, which was an old low-rise residential area, into a representative residential area in the northeastern region."