386 Units to Be Supplied in Deungchon-dong 515-44 Area
Project Area Doubled and Mandatory Donation Ratio Relaxed
With the approval of the establishment of a cooperative for Zone 1-3 of the street housing maintenance project within the Deungchon-dong 515-44 area in Gangseo-gu, Seoul, which is the target site for the Moatown project involving public institutions (SH Corporation), 386 units of multi-family housing will be built in this area.
The Moatown project involving public institutions is a method in which public organizations such as SH Corporation and Korea Land and Housing Corporation (LH) support the establishment of management plans and cooperatives, and jointly carry out the project.
According to Gangseo-gu on April 29, this approval is the second cooperative establishment approval in the district, following the approval for the Moahousing cooperative in the Hwagok 6-dong 1130-7 area, and is the first cooperative establishment approval for a Moatown project involving public institutions. The Deungchon-dong 515-44 area covers 19,627 square meters, and after development, will include eight buildings of multi-family housing with two underground floors and 15 above-ground floors, totaling 386 units, along with ancillary and welfare facilities.
Zone 1-3 is an area densely populated with aging houses adjacent to Bongjesan Mountain, and requires redevelopment to improve the residential environment and ensure the walking safety of students. However, due to urban planning regulations aimed at protecting the natural landscape, construction has long been restricted to buildings of four stories or less and 16 meters or less in height, making development difficult for many years. To improve the residential environment, the district established a Moatown management plan in 2021, and completed its approval and public announcement in 2023, laying the groundwork for the Moahousing project.
Subsequently, with a resident consent rate of 86.97%, an application for cooperative establishment approval was submitted, and on April 24, the district processed the approval by applying Moatown special provisions.
If the cooperative proceeds with the project jointly with SH, it will be eligible for various benefits, including expansion of the street housing maintenance project area (from less than 20,000 square meters to less than 40,000 square meters), relaxation of the mandatory rental housing donation ratio due to zoning upgrades (from 50% to 30%), support for low-interest project loans, and project feasibility analysis.
Moatown is a project that rapidly redevelops aging low-rise residential areas, which are difficult to redevelop through small-scale maintenance methods. The district is actively promoting Moatown to achieve balanced regional development and improve the residential environment. As a result, out of the 10 Moatown areas, seven, including Deungchon-dong, have completed management plan approvals and public announcements, and two areas, including the Gonghang-dong 55 area, passed Seoul City's integrated review in March and this month.
Jin Kyohun, head of the district office, stated, "We have focused on promoting Moatown for balanced regional development and improvement of the residential environment, and this cooperative establishment approval is the result of those efforts," adding, "We will continue to provide administrative support to ensure that the redevelopment of aging housing proceeds smoothly."
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