Yeongdeungpo-gu announced on the 14th that the sluggish progress of the reconstruction project will be improved and residents’ long-standing issues will be resolved. As a result of the upward adjustment of the recognition rate for building donations, the floor area ratio and the number of units for sale will increase, which is expected to further invigorate the reconstruction project.
On October 18th last year, Seoul City revised the “Public Facilities, etc. Donation Acceptance Floor Area Ratio Incentive Operation Standards” and raised the donation acceptance recognition ratio from 0.7 to 1.0. This is expected to increase the floor area ratio according to donation acceptance and have a positive effect on various redevelopment and reconstruction projects.
In addition, the construction cost of public rental housing is applied as a ‘basic construction cost’, making the construction cost level realistic and increasing the profitability of the maintenance project. According to the district, the construction cost per 3.3㎡ is approximately 7.17 million won, which is 1.9 times higher than before.
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[Korean Today] Yeouido Reconstruction Project Apartment Area. Photo = Yeongdeungpo-gu |
Baek ○○, the head of the reconstruction project for the Yeouido Jinju Apartment, said, “I am very excited that the redevelopment project will proceed quickly thanks to Yeongdeungpo-gu listening to our voices.” Choi Ho-kwon, the Yeongdeungpo-gu mayor, also emphasized, “With the inconveniences that were obstacles to the reconstruction project being resolved, the redevelopment project will begin in earnest,” and “I will work to ensure that Yeongdeungpo can leap forward as a luxury residential complex in the new economy of the southwestern region.”
This type of business promotion is one of the blueprints for Yeongdeungpo-gu to expand the supply of quality housing and grow into a luxury city, and is garnering great expectations from residents.
Yeongdeungpo-gu plans to actively reflect the opinions of residents and smoothly carry out urban development projects in the future. Interested residents can contact the Housing Business Division for more detailed information.
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