Low-rise Commercial Area Near Gongdeok Station, Redevelopment Accelerates

[Asia Economy Reporter Yuri Kim] The low-rise commercial area near Gongdeok Station in Seoul, where four subway lines intersect, will be redeveloped into a mixed-use residential and office building.

According to the maintenance industry on the 17th, Mapo-gu recently received an application for approval of the urban maintenance-type redevelopment project implementation plan for Mapo-ro 1 District, Zone 48, and is currently conducting a public inspection.

Mapo-ro 1 District, Zone 48, located at 27-8 Singongdeok-dong, Mapo-gu, is a 3,802㎡ general commercial area currently housing 12 neighborhood living facilities and 4 residential buildings. This area, densely packed with low-rise commercial buildings over 40 years old, will be reborn through redevelopment into one 32-story apartment building with 140 units and one 19-story office building. A building coverage ratio of 60% or less, a floor area ratio of 984% or less, and a height limit of 110 meters have been applied. The maintenance infrastructure plan includes creating 355.42㎡ of roads and 917.50㎡ of public open spaces within Mapo-ro 1 District where none currently exist. A Mapo-gu official stated, "After the public inspection period, the project will proceed through implementation approval, management disposition approval, and relocation," adding, "Construction is expected to begin as early as the second half of this year."

Mapo-ro 1 District, Zone 48, is located right in front of Gongdeok Station, a transfer station for four lines: Subway Lines 5 and 6, the Gyeongui-Jungang Line, and the Airport Railroad. It offers easy access to business districts such as Yeouido, Gwanghwamun, and Sangam Digital Media City (DMC), and Seoul Station is just one stop away via the Airport Railroad. The surrounding area is also densely packed with high-rise office facilities. Across the street are Gongdeok Market and Gongdeok Jokbal Alley.

Small to medium-sized maintenance projects are underway around Gongdeok Station. In the nearby Mapo-ro 6 District, where an urban environment maintenance project is also being promoted, the 472-unit "Gongdeok SK Leaders View" is under construction. Scheduled for completion in August, this site recorded an average competition rate of 34 to 1 during the first priority subscription in 2017, and last year, one canceled contract unit attracted 46,931 applicants.

The industry expects strong demand if general sales are conducted due to the advantage of being in the immediate vicinity of Gongdeok Station.

This content was produced with the assistance of AI translation services.