Final recommendation for 28 districts including Seoul Public Redevelopment and Hannam 1

28 districts, including Hannam District 1 in Yongsan-gu, have been named as candidates for the second public redevelopment. If the city of Seoul decides whether to make the final selection next month, and if two-thirds of the residents agree, the public redevelopment project can be started.

According to the Seoul Metropolitan Government on the 24th, it was confirmed that each ward office finally recommended a total of 28 districts to Seoul as candidates for the second public redevelopment. It is equivalent to 60% of the 47 application areas. It is known that Hannam District 1 in Yongsan-gu, Seongbuk District 1 in Seongbuk-gu, Geoyeosaemaul in Songpa-gu, Yeongdeungpo-gu Singil District 1, and so on. The 28 districts will be selected as final candidates after going through the’Ministry of Land and Seoul Joint Public Redevelopment Demonstration Project Candidate Selection Committee’ at the end of next month.

Public redevelopment is a reorganization project in which the Korea Land and Housing Corporation (LH) and Seoul Housing and Urban Corporation (SH) provide incentives such as floor area ratio as a condition to participate in the implementation, and instead accept donations such as rental housing. It is different from public direct redevelopment in which LH and SH are in charge of implementation. In the case of public direct implementation, if the house is purchased after February 4th, if the project is confirmed in the future, it is forcibly subject to’cash settlement’, but public redevelopment can be bought and sold.

However, the date of calculating the rights of regions newly designated for public redevelopment is September 21 last year. This is the day when the government started offering candidates. If it is a general redevelopment area, the date on which the rights are calculated will be announced at the time the zoning is designated. However, for public redevelopment, no matter when the zone is designated, the date for calculating the right will be advanced to the date of the public offering.

Even if it is selected as a candidate site, it is necessary to obtain the consent of at least two-thirds of the residents in order for the project to proceed. The government selected eight existing maintenance areas as the primary project sites last month, and plans to disclose the new business sites in the second time in March. The second candidate site is for new areas that have been lifted from the maintenance area or have not yet been designated.

[김태준 기자 / 이축복 기자]
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