SH Corporation Obtains 'Management Disposition Plan Approval' for Dapsimni 17 District Redevelopment
A bird's-eye view of the complex to be built in the Dapsimni 17 District Housing Redevelopment Project site.
View original image[Asia Economy Reporter Donghyun Choi] Seoul Housing and Communities Corporation (SH Corporation) announced on the 5th that the management disposition plan for the 'Dapsimni 17 District Housing Redevelopment Maintenance Project,' which improves the deteriorated residential environment in Dapsimni 2-dong, Dongdaemun-gu, Seoul, has been approved by the Dongdaemun District Office and officially notified.
Dapsimni 17 District was designated as a maintenance district in 2007, but the project faced difficulties as the existing construction company abandoned the project due to the housing market downturn caused by the US financial crisis at the time. Then, in 2011, SH Corporation was appointed as the project implementer, putting the maintenance project back on track. This maintenance project is the first independently implemented maintenance project since the establishment of SH Corporation.
The Dapsimni 17 District redevelopment project is a development on a 13,850㎡ site that will create six apartment buildings with 268 sale units and 58 rental units, along with community welfare facilities and small parks. SH Corporation plans to begin compensation and relocation plans in earnest following the approval of the management disposition plan by the relevant district office and aims to start construction within this year.
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An SH Corporation official stated, "The driving force behind completing the successful sale application and obtaining approval for the management disposition plan within a year, overcoming many crises during the project, was the organic cooperation and trust between SH Corporation as the project implementer and the residents of Dapsimni 17 District," adding, "We will do our best to be recognized as a model case of housing maintenance projects."
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