Increased rental housing and exempted from the upper limit on sale price
Designated area within the year… Retroactive to September 21, the date of right calculation

The area of Heukseok New Town 2 district in Heukseok-dong, Seoul, selected as a candidate for public redevelopment. yunhap news
Eight locations, including Seoul Heukseok New Town District 2, were selected as candidates for the’public redevelopment’ pilot project promoted by the government. Instead of relaxing regulations, projects are promoted in a way that increases publicity. The goal is to supply 4,700 new apartment units after completing the designation of maintenance areas within this year.
On the 15th, the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government announced the results of the first candidate site selection for the public redevelopment pilot project. This is the result of reviewing 12 of the 70 sites that participated in the competition last year for which maintenance plans were already established.
Selected candidates are Heukseok District 2 (1310 units), Yangpyeong 13 District (618 units), Yongdu 1-6 District (919 units), Bongcheon 13 District (357 units), New 1 District (279 units), Yangpyeong 14 District ( 358 households), Sinmun-ro District 2-12 (242 households), and Gangbuk District 5 (680), a total of 4700 households. All of them are existing maintenance areas, but projects have been delayed for more than 10 years. The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government have calculated that new apartments of 4,700 households can be supplied as soon as possible through public redevelopment to improve business feasibility and resolve resident conflicts.
![[속보] Selected as 8 candidates for public redevelopment including Heukseok District 2](https://i0.wp.com/img.hankyung.com/photo/202101/01.25009990.1.jpg?w=560&ssl=1)
Public redevelopment introduced through the ‘5·6 Supply Measures’ last year is that the public, such as the Korea Land and Housing Corporation (LH) and Seoul Housing and Urban Corporation (SH), participate in the implementation of redevelopment projects to enhance publicity and to ease regulations. . The floor area ratio is raised to 120% of the legal upper limit and the pre-sale price cap is excluded. It also guarantees support for member contributions and support for approval and permission. The cooperative must supply half of the quantity excluding the pre-sale of members as rental housing. For example, for a project with a total of 1,000 households, 500 units for member sales, 250 units for rental housing, and 250 units for general sales.
![[속보] Selected as 8 candidates for public redevelopment including Heukseok District 2](https://i0.wp.com/img.hankyung.com/photo/202101/01.25009989.1.jpg?w=560&ssl=1)
Eight sites selected as candidate sites are designated as public implementers after obtaining the consent of the residents. LH and SH inform residents of the results of business feasibility analysis through rough maintenance plans, estimated contributions, and proportional ratio calculations. After establishing a maintenance plan to which special cases for public redevelopment were applied, the Seoul Metropolitan Government plans to start the project by designating it as a public redevelopment maintenance area within this year. Seong-bo Kim, head of the Seoul Housing and Architecture Headquarters, explained, “We have chosen mainly places that can promote the project with a sense of speed through public support.”
In order to prevent the inflow of speculative funds, the designation of a land transaction permission zone is also promoted. If designated as a land transaction permission zone, you must obtain permission from the mayor of the ward when purchasing a house with an equity area of 18㎡ or more, and permission is granted only for the purpose of living.
![[속보] Selected as 8 candidates for public redevelopment including Heukseok District 2](https://i0.wp.com/img.hankyung.com/photo/202101/01.25009988.1.jpg?w=560&ssl=1)
In order to prevent’split the stake’, the date of the calculation of rights is scheduled to be announced on September 21, last year, the date of the business competition. This means that if you have split your stake in order to increase the number of targets for sale, such as building a new villa after this day, it means that it will not be recognized.
Among the 12 sites reviewed this time, four that were not selected will be re-discussed at the next candidate site selection committee for the joint public redevelopment pilot project of the Ministry of Land, Infrastructure and Transport. Among the places participating in the competition, 47 new and canceled areas (excluding 10 urban regeneration areas) that are not existing maintenance areas will be selected by the end of March.
Heung-jin Kim, head of the Ministry of Land, Infrastructure and Transport, said, “We expect that candidates for public redevelopment will contribute to the provision of homes for end users,” he said. “We will take all measures such as support for project expenses and relocation expenses.
Reporter Hyungjin Jeon [email protected]
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