LH "Ssangmun1 Urban Public Housing Complex Project Secures 29% Resident Consent Rate"

First Phase Candidate Sites for 3080 Housing Supply Leading Project, LH to Hold Resident Briefing on the 9th
Consent Forms Submitted for District Designation Application at 3 Sites Including Ssangmundong Within a Month After First Candidate Announcement
High Possibility of District Designation with Two-Thirds Resident Consent Within a Year Due to Development Expectations
Consent Forms Submitted for 3 of 15 Low-Rise Residential Areas... Resident Consent Progressing in Singil 2 and 15 Districts

[Image source=Yonhap News]

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 19th that it has received consent forms for the designation of a planned district from 29% of landowners in Ssangmun 1 District, which was announced as a candidate site for the first phase of the Urban Public Housing Complex Project.

Ssangmun 1 District in Dobong-gu is one of the candidate sites for the ‘3080+ Housing Supply Plan First Phase Pilot Project’ announced by the Ministry of Land, Infrastructure and Transport last month on the 31st. It is one of the low-rise residential housing supply activation districts with an area of 39,233㎡.

Since the announcement of the candidate site, LH held a project briefing session on the 9th for residents of the Dobong-gu pilot project candidate site to explain the overall project plan and implementation schedule.

Ssangmun 1 District was previously designated as a planned district for detached house reconstruction but faced difficulties in project promotion due to lack of profitability and was deregulated in 2015. Since the announcement of the candidate site, the resident consent rate has approached 30% in less than 20 days, raising residents’ expectations for local development. LH expects to achieve the district designation requirement of two-thirds resident consent within one year.

After preparing the development plan and conducting a feasibility analysis, LH plans to hold a second residents’ briefing session in May, undergo a preliminary review by the Ministry of Land, Infrastructure and Transport and local governments in June, and propose district designation in July. Ssangmun 1 District is expected to be reborn as a complex of about 1,000 households by increasing the floor area ratio in the current Type 1 and Type 2 general residential areas.

So far, a total of 15 candidate sites have been announced as 3080 low-rise residential housing supply activation districts, and among them, three districts including Ssangmun 1 District, Susaek 14 District, and Jeungsan 4 District have completed submission of consent forms for planned district designation. Yeongdeungpo Singil 2 and 15 Districts are in the process of obtaining resident consent for planned district designation. At the time of submitting the planned district designation proposal, Susaek 14 District recorded a resident consent rate of 45%, and Jeungsan 4 District recorded 41%.

An LH official said, "The Urban Public Housing Complex Project offers many incentives such as improved profitability compared to resident-led development, rapid project promotion, and increased floor area ratio, which can enhance project feasibility," adding, "We plan to promptly proceed with the project by collecting residents’ opinions as much as possible, focusing on districts where consent forms have been submitted."

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