Daishin Asset Trust is moving forward with a redevelopment project in the Dolgogui and Sangwolgok station area in the Jangwi-dong neighborhood of Seoul's Seongbuk District. The company has secured the consent of 77% of landowners and has completed its application to be designated as the project implementer.
Daishin Asset Trust, a subsidiary of Daishin Securities, announced on the 12th that it has completed its application for designation as the implementer of the 'Dolgogui and Sangwolgok Station Area Long-Term Rental Housing Urban Renewal Redevelopment Project.'
Since signing a memorandum of understanding with the project preparation committee in June, Daishin Asset Trust has been conducting the consent process with landowners. As of the application date, it has achieved a consent rate of 77%, and plans to proceed with subsequent steps such as obtaining permits after being designated as the implementer.
The project aims to develop a residential complex on approximately 94,411 square meters of land in Jangwi-dong, featuring four underground floors and a maximum of 45 above-ground floors, totaling 2,617 housing units.
The site is located between Dolgogui Station and Sangwolgok Station on Seoul's Line 6 subway. Daishin Asset Trust plans to enhance the residential environment by expanding infrastructure such as parks, roads, public walkways, and community facilities to improve transportation and living convenience.
As interest in redevelopment projects in the northeastern part of Seoul grows, urban renewal redevelopment combined with long-term rental housing is expected to be recognized as a model that simultaneously expands housing supply and improves aging residential areas.
Kim Song-kyu, CEO of Daishin Asset Trust, stated, “The application for designation as the project implementer was made possible thanks to the trust and support of landowners. We will transparently share the major procedures of the project based on our expertise in redevelopment and lead the redevelopment project in a way that enhances residential convenience and local value.”
* This article has been translated by AI.
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