Reconstruction to expand to 500,000 to 600,000 households, more than double the promised
Relief of safety diagnosis regulations for apartments 30 years after completion, increase floor area ratio by up to 500%
photo = Yonhap News
The Presidential Takeover Committee has decided to significantly expand the areas targeted for the promotion of the first-phase new town reorganization, including Ilsan and Bundang, to five cities, including Goyang and Seongnam, to which the new town belongs. This is because it is necessary to establish a comprehensive plan at the city/province level to expand transportation and education infrastructure in line with large-scale reconstruction and redevelopment. With the expansion of the target area, the target of reorganization promotion will increase to 500,000~600,000 households, which is about double the previous pledge.
According to President-elect Yoon Seok-yeol on the 29th, the Real Estate Task Force (TF) of the transition committee decided to expand the target area for the promotion of the first new town reorganization to the entire city to which the new town belongs. Accordingly, the target area will be expanded from the five new cities, including Ilsan, Bundang, Middle East, Pyeongchon, Sanbon, etc., proposed as a presidential campaign promise, to all five cities including Goyang, Seongnam, Bucheon, Anyang, and Gunpo. The transition committee is planning to redevelop not only reconstructed apartments, but also old housing areas in the old city center through redevelopment.
President-elect Yoon’s side plans to speed up the project by promoting the ‘Special Act on Promotion of Old City Renovation Projects’ (working title) when the new government is launched next month. Comprehensive measures for real estate, including the 1st new city renewal project, will also be announced.
An official from the transition committee said, “We actively accepted the opinions of experts that the areas adjacent to the new city should be developed together to solve the transportation infrastructure problem expected due to large-scale reconstruction.” said.
According to Real Estate R114, there are about 280,000 apartments in the five new towns. There are about 830,000 households in all five cities. Considering areas excluded from reconstruction targets, such as new apartments, it is estimated that between 500,000 and 600,000 households will benefit from the special law during the five years of the Yun Seok-yeol administration.
It is known that the special law promoted by the president-elect Yoon’s side will include measures to significantly ease safety inspection regulations for apartments over 30 years of construction and to increase the floor area ratio to a maximum of 500% in the station area, etc. Considering the issue of equity, the central government is also considering a method of preparing and implementing a comprehensive reorganization plan when the mayor/proviner applies for it.
Reporter Dong-wook Jwa / Heon-hyeong Ha leftking@hankyung.com
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