Eunpyeong-gu Old Jeungsan 4· Susaek 14 District Residents' 10% Consent: Is the Project Gaining Momentum?

Green Light for District Designation as Residents of Jeungsan4 and Susaek14 Zones, Candidates for Public-Led 3080+ Phase 1 Pilot Project, Submit 10% Consent

[Asia Economy Reporter Park Jong-il] Eunpyeong-gu (Mayor Kim Mi-kyung) announced on the 12th that residents of the former Jeungsan 4 District and the former Susaek 14 District, the first pilot project candidate sites for the public-led 3080+ housing supply plan, have submitted consent forms for the designation of the urban public housing complex project site (with more than 10% resident consent) to LH Korea Land and Housing Corporation.

As a result, these two areas have secured the landowners' consent requirement of 10%, enabling them to be designated as planned districts in July this year and to proceed with the project swiftly.

Jeungsan 4 District and Susaek 14 District were areas with uncertain development prospects after the cancellation of their redevelopment zones. However, they were selected as the first pilot project candidate sites in March under the government's public-led 3080+ metropolitan housing supply expansion plan. Among the 21 first pilot project candidate sites, they were the first to submit more than 10% resident consent for planned district designation, signaling a green light for the public development project introduced to expand housing supply in Seoul.

If two-thirds of the residents (or half based on area) of the first pilot project candidate sites give consent within this year and the project commences, the landowners are guaranteed the highest rate of return. Accordingly, residents in these candidate districts are responding quickly to obtain consent.

LH Corporation plans to hold a project briefing session in April for the first pilot project candidate sites to help residents in the relevant areas of Eunpyeong-gu understand the project. Separate briefing sessions for each district will be held after analyzing the feasibility of each area.

Kim Mi-kyung, Mayor of Eunpyeong-gu, stated, “Among the four station areas including Yeonsinnae, selected as first pilot project candidate sites under the 3080+ housing supply plan, complex high-density development is possible. The five low-rise residential areas, including the former Jeungsan 4 District, can be developed into residential spaces equipped with quality living SOC (social overhead capital). This project is only possible with residents' consent, and once the consent is fulfilled, Eunpyeong-gu will actively support the project through consultations with related institutions.”

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