Gwangjin-gu Jayang-dong 680-11 Redevelopment Promotion Project, 'Public Rental Securing Floor Area Ratio Increase Plan' Rejected

[Asia Economy Reporter Choi Dong-hyun] A plan to relax the floor area ratio on the condition of including public rental housing in a lot within the Guui-Jayang Redevelopment Promotion District in Seoul was rejected by the Seoul Metropolitan Government's Urban Redevelopment Committee.

According to industry sources on the 15th, Seoul held the 11th Urban Redevelopment Committee meeting the previous day and rejected the amendment plan for the Guui-Jayang Redevelopment Promotion District. The agenda under review included changing the floor area ratio from the existing 359.62% to 459.62%, an increase of 100 percentage points, for 315.8㎡ at 680-11 Jayang-dong within the Guui-Jayang Redevelopment Promotion District, on the condition of securing 7 rental housing units.

A Seoul city official explained the reason for the rejection, stating, "Considering business feasibility and location, the Urban Redevelopment Committee judged that it is better to proceed with the existing plan."

Meanwhile, the Urban Redevelopment Committee also discussed other matters the previous day, including a proposal to revoke the designation of the Gangbuk 2 Redevelopment Promotion District in 42-8 Mia-dong, Gangbuk-gu, and amendment plans for three redevelopment promotion districts: Yeongdeungpo 1-4, Banghwa 6, and Jeonnong. However, no conclusions were reached, and these were put on hold.

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