Yeongdeungpo District Begins Major Transformation... Singil District 2 Urban Public Housing Complex Project in Full Swing

Supplying 1,332 Units in a 45-Story Complex by 2030
Rapid Urban Public Housing Project Eases Burden on Association Members

Yeongdeungpo District (District Mayor Choi Hokwon) announced that the old residential area of Singil District 2 (around 205-136 Singil-dong), which had been difficult to redevelop through private redevelopment projects, will be rapidly transformed into a 45-story residential complex through the Urban Public Housing Complex Project.

The Urban Public Housing Complex Project is a public-led initiative that quickly develops underutilized and aging areas, such as those near subway stations, quasi-industrial zones, and low-rise residential neighborhoods, which are difficult to develop through traditional private projects, and then supplies housing.

Previously, Singil District 2 was designated as a New Town in 2008, but development was halted in 2014 when it was removed from the redevelopment zone due to a downturn in the real estate market. However, after being selected for the Urban Public Housing Complex Project, with LH leading the overall project, procedures have been simplified and rapid development has become possible compared to general redevelopment and reconstruction projects.

The Singil District 2 Urban Public Housing Complex Project aims to begin construction in 2026 and be completed in 2030, supplying a total of 1,332 housing units across 18 buildings. The area, which has been densely populated with houses over 30 years old, will be transformed into a premium residential complex with a floor area ratio of 300% and a maximum height of 45 stories, encompassing both public sale and public rental housing.

The head of the association said, "Thanks to the Urban Public Housing Complex Project, we were able to complete the procedures in just 3 years and 8 months. This was possible due to the active legal review and administrative support from the district office and LH, as well as the high level of cooperation resulting from the reduced burden on association members."

Choi Hokwon, Mayor of Yeongdeungpo District, stated, "Currently, more than 80 redevelopment and reconstruction projects are being rapidly promoted in Yeongdeungpo, changing the future of the district. We will focus our administrative efforts on reducing the burden on residents and work to ease unnecessary regulations so that projects can proceed with strength."