Jangwi District 14 Redevelopment Accelerates in Seongbuk-gu... 2,846 Units to Be Supplied with Increased Floor Area Ratio [Real Estate AtoZ]

Seoul Kids Land, the Largest in Gangbuk, to Be Established as a Donated Facility
Expansion of Infrastructure Including Parks and Roads

Location map of Jangwi Redevelopment Promotion District, Seongbuk-gu. Seoul City

In Jangwi District 14 of Seongbuk-gu, Seoul, the supply of more than 2,800 housing units is set to begin in earnest. The project has gained momentum as its profitability has increased due to an upward adjustment of the floor area ratio. Seoul Kids Land, which will be the largest of its kind in the Gangbuk area, is also scheduled to be developed in conjunction with the project.

On December 21, Seoul City announced that the 10th Urban Redevelopment Committee had approved, with modifications, the 'Plan for Changes to the Jangwi District 14 Redevelopment Promotion Plan and Landscape Review.'

Although architectural review for Jangwi District 14 was completed in October 2023, the project was delayed because the project implementation plan failed to pass the union's general assembly due to low profitability. The latest plan incorporates the 36th deregulation measure promoted by the city in July, which included easing of floor area ratio, public contribution, and residential ratio requirements for redevelopment promotion projects. With a 30% relaxation of the standard floor area ratio and the application of a legal maximum floor area ratio of up to 270%, the project's profitability has been significantly improved.

With the deregulation measures in place, Jangwi District 14 now plans to supply a total of 2,846 housing units. Of these, 539 units-including 66 Mirinae Housing units and 37 public sale units-will be provided as public housing.

In addition, Seoul Kids Land, which will cover approximately 10,000 square meters and be the largest in the Gangbuk area, will be established as a donated facility. It will operate as a large-scale public theme park accessible to everyone, featuring an integrated experience center where children can explore a variety of career fields.

The plan also includes the donation of public office buildings and a comprehensive social welfare center, as well as the expansion of infrastructure such as parks and roads, to enhance the quality of life for local residents.

Choi Jinseok, Director of Housing at Seoul City, stated, "With the application of deregulation, the long-delayed project in Jangwi District 14 is now back on track and will move forward in earnest. We will strive to shorten the timeline and ensure the rapid supply of housing through administrative support."