Jung-gu, Seoul (Mayor Gil-seong Kim) announced that Hoehyeon-dong was selected as a pilot area for the New Village Project, a project to support the redevelopment of old low-rise residential areas by the Ministry of Land, Infrastructure and Transport. A total of 25.4 billion won will be invested over five years starting next year, and it is expected to be transformed into a new residential area in the city center through improvements to the residential environment and expansion of infrastructure.
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[Korean Today] Revitalizing the downtown residential area below Namsan © Reporter Seung-ju Ji |
New Village is a project to create a residential environment on the level of apartments by activating housing maintenance and supplying infrastructure and convenience facilities in old, low-rise residential areas where full-scale demolition and redevelopment are difficult.
The area selected this time is 63,944㎡ around 164 Hoehyeon-dong 1-ga, with Hoehyeon-dong Community Center in the center and Namsan Ring Road Sopa-ro to the south. The area consists of 76.3% buildings below 3 stories, and 87.3% of buildings are over 20 years old. In addition, redevelopment was realistically difficult due to its location on a slope, and the residential environment was poor due to the lack of infrastructure such as parking lots and roads, leading to a population decline for five consecutive years.
Jung-gu decided that this New Village project was the right time to do so, considering the fact that the height restrictions on buildings were partially relaxed due to the relaxation of height restrictions on Namsan and the progress of surrounding development projects. After applying for the project in October, a survey was conducted targeting landowners, and 80% of the respondents expressed their intention to develop their homes, securing momentum for the project.
The core of the project is to promote housing maintenance and improve living infrastructure. Jung-gu plans to secure business feasibility through various support measures such as ▲providing incentives for floor area ratio and building coverage ratio ▲easing requirements for residents’ consent for maintenance projects ▲public purchase agreements for new housing ▲joint development through construction agreements ▲low-interest loans for maintenance funds. In addition, it will designate strategic housing maintenance zones to strengthen administrative support and expert advice.
Infrastructure improvements will also be implemented. ▲Building public parking lots ▲Expanding and improving fire roads and pedestrian paths ▲Establishing key facilities (for apartment management offices) to improve the living environment. In particular, a development plan utilizing the site of the Hoehyeon-dong Community Center, which is scheduled to be relocated to a new building, is also under review.
A total of 25.4 billion won, including 10.1 billion won from the national budget and 13.6 billion won from the city budget, will be invested in this project, which is scheduled to be completed by 2029. Detailed plans will be established starting next year to systematically promote the project.
Kim Gil-seong, the mayor of Jung-gu, emphasized, “Hoehyeon-dong is a transportation hub adjacent to Seoul Station, and has high potential as a residential area due to its close proximity to major tourist attractions such as Namsan and Myeongdong.” He added, “We will thoroughly promote the New Village project to transform Hoehyeon-dong into an attractive residential area in the city center.”
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