LH to Open Public Joint Implementation Contest for 'Street and Autonomous Housing Maintenance Projects' Starting from the 25th

Announcement on the 25th for Candidate Sites of Leading Projects in the Capital Region and Managed Areas, Applications from May to July, District Selection in the Second Half
Second Round of Public Recruitment Planned for the Capital Region and Five Major Metropolitan Cities in the Second Half of This Year
Expansion of Housing Supply and Promotion of National Housing Stability through Smooth Implementation of the 2.4 Measures

Structure of the Horizontal Housing Maintenance Project.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 24th that starting from the 25th, it will hold a public contest for the ‘LH Participation Type Street and Autonomous Housing Maintenance Project,’ in which LH participates as a co-project executor with residents.

Since 2016, LH has been promoting the ‘Street and Autonomous Housing Maintenance Project’ to improve living environments such as residential spaces in deteriorated urban areas. Last year, LH conducted two rounds of public contests for the ‘LH Participation Type Street and Autonomous Housing Maintenance Project’ targeting the Seoul area.

Through the first contest, seven locations including Jongam-dong in Seongbuk-gu, Seoul, and Mangwon-dong in Mapo-gu, Seoul, were selected. Currently, resident briefings are being held for 12 locations submitted in the second contest. This contest is being promoted as a follow-up measure to the government’s ‘Public-led 3080+, Metropolitan Housing Supply Plan’ to supply quality housing in urban areas quickly through the street and autonomous housing maintenance projects.

The street housing maintenance project can be promoted if △ the project implementation area is less than 10,000㎡ △ the number of old or poor-quality buildings accounts for two-thirds or more of all buildings in the project area △ the number of existing houses meets at least 10 single-family houses or 20 multi-family housing units. The autonomous housing maintenance project is a project where two or more owners of old single-family, multi-family, or row houses form a resident consensus group to renovate or build houses themselves.

Unlike large-scale redevelopment or reconstruction projects, this project has simplified procedures allowing for rapid progress, and project costs can be financed through the Housing and Urban Fund. Especially in the ‘LH Participation Type Project,’ where LH promotes the project as a co-executor with residents, various incentives are available, including △ low-interest support for up to 90% of project costs (1.2% per year) △ LH’s commitment to purchase unsold houses △ relocation cost support △ expansion of project implementation area △ relaxation of building regulations.

As resident interest is increasing, LH plans to expand the contest areas from Seoul to the metropolitan area this year and gradually expand the contest targets to the metropolitan area and five major metropolitan cities in the second half of the year.

For the contest targets in Seoul, Gyeonggi, and Incheon areas, as well as districts wishing to apply for street and autonomous housing maintenance projects within the government-announced management area pilot project candidates in April, applications can be submitted by mail or email with the required documents such as application forms and consent forms. Detailed information regarding the contest and required documents can be found on the LH website (www.lh.or.kr) and the LH Maintenance Project Support Organization (jeongbi.lh.or.kr).

The contest schedule starts with the announcement on the 25th, followed by △ application and reception (May to early July) △ status investigation and project review (July to August) △ resident briefings and consultations (September) △ confirmation of joint project implementation districts (second half of the year). LH plans to comprehensively review project conditions such as resident consent rates, willingness to participate, and business feasibility analysis results to decide project sites. Especially, if applications are submitted from the 20 small-scale housing maintenance management area pilot project candidates announced by the government last month, priority will be given to project promotion.

Previously, the Seoul Geumcheon Siheung district, selected as an LH participation type street housing maintenance project site through a contest in March last year, completed the approval for the establishment of the association on the 6th. The project is being promoted targeting 130 old households in the area around 937-11 Siheung-dong, Geumcheon-gu, Seoul, covering 8,000㎡, and with the signing of the joint implementation agreement in July, the project will be fully launched to transform into 245 new residential units.

Park Hyun-geun, head of LH’s Urban Maintenance Project Department, said, “The LH participation type street and autonomous housing maintenance project offers various incentives such as rapid project promotion, commitment to purchase unsold units, relocation support, and fund financing.” He added, “LH will continue to do its best to expand the supply of quality housing and stabilize residential welfare for the underprivileged through the thorough implementation of the 2.4 Plan.”

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