Foundation Laid for Non-Apartment Housing Supply in 214 Sinyeong-dong, Jongno-gu
Support for New Construction, Expansion, and Remodeling of Non-Apartment Housing
The first change to the maintenance plan for the Sinyeong-dong area in Jongno-gu, Seoul, among the pilot sites of the 'Human Town 2.0' project, which supports individual maintenance instead of full demolition and redevelopment, has been completed.
On the 4th, Seoul City announced that it has completed the 'Residential Environment Improvement Project Area Maintenance Plan Change' for the Human Town 2.0 pilot site at 214 Sinyeong-dong, Jongno-gu.
Conceptual plan of Human Town 2.0 project in the area of 214, Sinyeong-dong, where the residential environment improvement project is underway. Provided by Seoul City
The Human Town 2.0 pilot project is a housing stability measure that supports maintenance such as new construction and remodeling of multi-family, multi-unit, and urban-style residential housing. Seoul City and Jongno-gu were selected as New Village project sites by the Ministry of Land, Infrastructure and Transport, and among the three pilot sites (85-29 Guro-dong, 422-1 Mangu-dong, etc.), this project is proceeding first through the recent maintenance plan change.
The area around 214 Sinyeong-dong, Jongno-gu, had difficulties with new construction or expansion due to regional characteristics such as natural landscape zones and height restriction zones. After being selected as a pilot site, it was designated as a special architectural zone in December last year, and through this maintenance plan change for designation as a concentrated architectural agreement zone and remodeling activation zone, it has established the first institutional foundation nationwide for supplying non-apartment housing.
Seoul City and Jongno-gu support building owners within the existing Human Town 2.0 project sites by subsidizing loan interest up to 3% for loans up to 3 billion KRW and providing repair loan funds considering the owners' property status and publicly announced prices. With this relaxation of building standards, it is expected to meet the demands of residents who want new construction, expansion, or remodeling. The city also plans to establish infrastructure such as village parking lots to promote the supply of non-apartment housing.
Choi Jin-seok, Director of the Housing Office of Seoul City, said, "We have completed the maintenance plan change for the residential environment improvement project in the area of 214 Sinyeong-dong, Jongno-gu, among the three Human Town 2.0 pilot sites. We will promptly proceed with designations such as special architectural zones in the remaining areas of Mangu-dong, Jungnang-gu, and Guro-dong, Guro-gu. We expect an increase in demand for new construction through the supply of non-apartment housing."
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