“Investment cost preservation and additional guarantee of return…
Union and construction contractors should participate”
Concerns over disputes such as increased floor area ratio and the right to sunlight
Combinations with high progress, prospects for absence
With the’public direct implementation maintenance project’ proposed by the government as a’public-led 3080+ metropolitan area housing supply remarkable expansion plan’ (2 and 4 measures), a reaction mixed with expectations and concerns at the Incheon housing redevelopment and reconstruction maintenance project site.
The redevelopment and redevelopment area of Incheon area was so active that there were more than 200 in the late 2000s, but many of them have been stopped due to lack of business feasibility.
Since 2012, the city of Incheon has been on a’diet’, which cuts the number of business areas that it judged that it is difficult to carry out the business anymore through ex officio cancellation, and currently only 86 sites remain. In the process of clearing the maintenance business area, there was also a great social conflict, such as sunk costs. → see table
With the recent rise in real estate prices in the metropolitan area, some maintenance projects in Bupyeong and Gyeyang, which are close to Seoul, are accelerating in Incheon, but it is still difficult to carry out projects in the old downtown areas such as Jung-gu and Dong-gu, officials said. An important part of their 2·4 countermeasures is’incentives’.
In 2009, Incheon City Corporation (iH) participated in urban renovation projects such as housing redevelopment and promoted a plan to increase public performance and speed of business, as in this measure, but at that time it failed due to low incentives.
An official from a redevelopment association said, “If general sales are expected to be successful and there is room for business, there is no reason to cause conflict among members. The government also compensates for sunk costs and provides additional guarantees of up to 10-30%. From the standpoint of the union and construction works, it is worth actively participating,” he said.
At the site, if the floor area ratio of the redevelopment and reconstruction projects, which is mostly the old city center, is raised significantly, there are concerns about the issue of securing a parking lot or a dispute over the right to sunlight with nearby low-rise residential areas. If public implementation is promoted with the consent of more than two-thirds of the members, the site is secured in an accommodation method, which may cause another conflict among residents.
In fact, it is predicted that there will not be many maintenance project areas entrusted to the public.
An official of the Incheon Metropolitan City Center Improvement Project Association said, “As the current real estate price increase is driving the Incheon redevelopment and reconstruction market, it will not be easy to change the associations that have undergone a significant part of the business procedure.” It seems that the district will hope for public implementation to promote new projects.”
/ Reporter Park Kyung-ho [email protected]