Songpa-gu 'Geoye Saemaeul' Accelerates Balanced Development of Geoye and Macheon through Public Redevelopment

March 29: 'Geoye Saemaeul District' Selected as Candidate Site for Public Redevelopment Project... April 1: Machon 4 District Also Approved for Project Implementation Plan... Concurrent with 'Geoye-Machon Area Comprehensive Development Plan'... Driving Regional Development

[Asia Economy Reporter Jong-il Park] Songpa-gu (District Mayor Seong-su Park, photo) announced on the 5th that the 'Geoye Saemaeul District' was finally selected as a candidate site for the public redevelopment project by the Ministry of Land, Infrastructure and Transport and Seoul City on March 29.

Accordingly, the district plans to use this as a driving force for regional development in parallel with the 'Geoye-Macheon Area Comprehensive Development Plan,' which is being promoted as a core project.

Recently, as redevelopment projects have been in full swing in the Geoye-Macheon area, local residents have high expectations. Following the move-in of 1,199 apartment units in Geoye 2-2 District in 2020, 1,945 units in Geoye 2-1 District are scheduled to be occupied by the end of this year.

Also, with the approval of the project implementation plan for Macheon 4 District's 1,372 units on April 1, synergy effects with the development of Wirye New Town are expected in the redevelopment projects.

However, the 'Geoye Saemaeul District,' a densely populated multi-family housing area, was incorporated into the Geoye-Macheon Redevelopment Promotion Zone in 2011 but has been designated and managed as a preservation management zone since 2014. This was due to the majority being Type 1 General Residential Area (up to 4 floors) with low floor area ratio limits and lack of project feasibility. As a result, residents have continuously raised the need for development, including requests for zoning upgrades.

To promptly promote the long-standing redevelopment wish of the Geoye-Macheon area residents, the district applied for the Seoul City public redevelopment project candidate sites in September last year and recommended 'Geoye Saemaeul District' as a candidate site on January 29 of this year.

With this selection, the Geoye Saemaeul District will proceed with the construction of a total of 1,429 apartment units on approximately 63,995㎡ around 551-14 Geoye-dong. Urban regulation easing, such as zoning upgrades, will also be implemented.

In the future, the district plans to actively collect residents' opinions by holding on-site briefings for public redevelopment candidate site residents and explaining the maintenance plan and project feasibility analysis results. Through this, the project aims to start the maintenance plan establishment process within this year.

In particular, the district intends to swiftly promote the public redevelopment project in line with the 'Geoye-Macheon Area Comprehensive Development Plan,' which is a key project this year, to transform the area into a premium residential complex.

Seong-su Park, Mayor of Songpa-gu, said, "For several years, the Geoye Saemaeul area was designated as a preservation management zone, making development difficult, but through public redevelopment, we have created an opportunity for balanced development with surrounding areas." He added, "Based on residents' opinions, we will carry out the public redevelopment project without setbacks to improve the residential environment and enhance residents' quality of life."

Location Map of Geoya Saemaeul District Public Redevelopment Project

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