Seoul to Build 284-Unit Residential Complex in Namyeong-dong Station Area on Subway Lines 1 and 4 [Real Estate AtoZ]

Floor Area Ratio Relaxed Up to 665% Through Public Contributions

Urban Management Plan Location Map for 31-1 Namyeong-dong, Yongsan-gu. Seoul City

A residential complex with 284 units and work facilities will be built in Namyeong-dong, Yongsan-gu, Seoul.

The Seoul Metropolitan Government announced on the 18th that it held the 19th Urban Planning Committee meeting and approved with amendments the proposal to change the urban management plan (zoning) for the area around 31-1 Namyeong-dong, Yongsan-gu, as well as the designation of the redevelopment zone and the decision on the maintenance plan for the Namyeong-dong 4-2 district urban redevelopment project.

This area is located along Hangang-daero, which connects Seoul Station and Yongsan Station. Although it is a station area adjacent to subway lines 1 and 4, 90% of the buildings are old. In addition, while the number of businesses and employees in the area continues to grow, the number of residents is decreasing, accelerating urban hollowing in the district.

With this decision, the zoning of parcels at the rear of the main road has been upgraded from Type 2 General Residential Area to General Commercial Area. The city has planned 284 residential units and work and retail facilities with a total floor area of approximately 20,000 square meters.

Through public contributions such as maintenance infrastructure and public facilities, the floor area ratio has been relaxed up to a maximum of 665%. To create a skyline that takes into account the adjacent U.S. Embassy and Yongsan Park, the height limits have been set at 100 meters along Hangang-daero and 70 meters along the Yongsan Park side. As public contribution facilities, the plan includes leisure and cultural facilities for seniors and a public postpartum care center.

In addition, an open public space will be created along Hangang-daero, and the exits 5 and 6 of Sookmyung Women's University Station will be relocated within the site, thereby improving the pedestrian environment.

The city stated, "With the designation of the Namyeong-dong 4-2 district urban redevelopment zone, we expect the Namyeong-dong area to be reorganized as a central gateway connecting Seoul Station and Yongsan Station, and to emerge as a new mixed-use central space."