Forty-four areas, including the three districts of Gangnam, are participating in the urban public housing complex project, which aims to redevelop aging residential areas in Seoul through public-led high-density development. This initiative is expected to yield approximately 60,000 new housing units.
According to the Ministry of Land, Infrastructure and Transport, proposals from residents were submitted from 44 locations across 16 districts in Seoul by the deadline on October 8.
The urban public housing complex project is designed to facilitate development in aging urban areas where private redevelopment efforts face challenges. It allows for expedited processes by omitting steps such as establishing associations or management plans.
This application process was conducted in a manner that encouraged residents to propose projects directly. After review by local districts, recommended sites will be evaluated by a selection committee involving the Ministry and the Seoul city government, with final candidates to be announced in July.
Notably, projects with a participation rate exceeding 30% will receive maximum evaluation points. Approximately 61% of the proposed sites, or 27 locations, met this criterion.
By type, there are 16 residential-commercial high-density zones centered around transit stations (covering 674,000 square meters), 25 housing supply activation zones in low-rise residential areas (covering 1,983,000 square meters), and three residential-industrial convergence zones in semi-industrial areas (covering 159,000 square meters).
For transit and low-rise residential types, the floor area ratio can be temporarily relaxed up to 1.4 times the legal limit until April 2029. The government plans to enhance project viability and encourage increased supply within urban areas through this measure.
Currently, among the 49 urban public housing complex sites nationwide, 29 (approximately 48,000 units) have already been designated as complex zones, with nine (about 13,000 units) having received project approval.
The Ministry anticipates that the urban public housing complex project in the northern area of Jeongmalpo Station in Incheon’s Michuhol District will commence construction five years after being selected as a candidate site. This project, which will feature up to 49 floors and over 3,500 units, is noted as the first successful case of public-led development utilizing a REITs (Real Estate Investment Trust) model.
Additionally, significant construction projects are expected to begin in Seoul next year, with notable sites including Eunpyeong District's Jeungsan 4 District and Yeonsinnae Station, as well as Yangcheon District's Sin-gil 2 District and Dobong District's Banghak Station and Ssangmun Station.
Lee Jae-pyeong, Director of Housing Supply Policy at the Ministry, stated, "The high interest and participation from residents in this application process reflect the expectations for urban public housing projects on the ground. We will actively support the swift and smooth progress of projects following the selection of candidate sites based on improved systems."
* This article has been translated by AI.
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