Project Profitability Improved with Relaxed Floor Area Ratio and Adjustment Coefficient
Large Underground Reservoir to Prevent Flood Damage
Three years after being designated a special disaster zone due to heavy rainfall, the Daerim 1 District has received approval for its promotion committee just eight months after its district designation. By applying the Rapid Integrated Planning 2.0 initiative, the project period is expected to be shortened, accelerating redevelopment efforts.
On December 10, the Seoul Metropolitan Government announced that it would implement customized redevelopment in the Daerim 1 District by applying Rapid Integrated Planning 2.0, aiming to improve the local residential environment and prevent disasters. The plan includes supplying up to 1,026 housing units in buildings up to 35 stories high by 2035.
The city plans to reduce the average 18 years and 6 months typically required for redevelopment projects to about 12 years in Daerim 1 District by applying Rapid Integrated Planning 2.0. After being selected as a candidate site for redevelopment under this initiative in December 2022, Daerim 1 District received its official district designation in March this year, nearly two years later. The promotion committee approval process was then completed in just eight months, by November 13.
The Daerim 1 District is moving quickly, targeting approval for the establishment of a cooperative in the first half of next year. The city is meticulously managing the process through a Fairness Promotion Meeting and has appointed a conflict management officer to minimize potential disputes.
Reflecting the 2030 Seoul Urban Master Plan announced in September last year, the city has eased the allowable floor area ratio and improved project profitability by applying an adjustment coefficient. The zoning was upgraded from Type 2 General Residential to Type 3 General Residential, and the project profitability adjustment coefficient (1.53) and allowable floor area ratio incentive (up to 20%) were expanded, significantly relaxing the floor area ratio from 250% to 285%. The proportional allocation rate for cooperative members was also improved to 115%, further enhancing project profitability.
To ensure that original residents can move into new apartments stably without additional financial burden, the unit types will be distributed with a focus on small-sized units for actual residence.
Given the area's vulnerability to flooding, a large underground reservoir with a capacity of 15,000 tons will be constructed beneath the complex's park to temporarily store rainwater during heavy downpours and prevent flood damage.
To alleviate local parking shortages, a public parking lot with 253 spaces will be built, and public contribution facilities such as social welfare centers and parks will also be secured.
On this day, Seoul Mayor Oh Sehoon visited the Daerim 1 District to inspect the site, meet directly with residents, share the city's redevelopment plans, and listen to residents' concerns and suggestions.
Mayor Oh stated, "Due to the government's October 15 real estate regulatory measures, we expect transaction slowdowns and increased project burdens, such as restrictions on the transfer of cooperative member status and stricter relocation loan regulations. I will listen closely to residents' voices to resolve their difficulties quickly and accurately, communicate these issues to the government, and clearly demand improvements if necessary."
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