1400-Unit Townhouse in Jeongneung, Seoul... Redevelopment Project Approval Imminent

Perspective view of the townhouse to be built in the Jeongneunggol redevelopment area, Seongbuk-gu

[Asia Economy Reporter Kim Hyemin] A townhouse complex with more than 1,400 households is being planned in the heart of Seoul. This comes as the Seongbuk-gu Jeongneunggol district redevelopment project is on the verge of receiving approval for its project implementation plan.

According to the maintenance industry on the 2nd, Seongbuk-gu, Seoul, is currently conducting a public inspection notice for the approval of the project implementation plan for the Jeongneunggol district redevelopment project in the area around 757 Jeongneung-dong.

The Jeongneunggol district will be transformed through redevelopment into a townhouse complex consisting of a total of 1,411 households in four-story buildings. It is rare for a townhouse complex with over 1,000 households to be built near downtown Seoul. A representative from nearby A Real Estate Agency said, "This area falls under the natural scenic district of the Bukhansan foothills, so it is subject to floor area ratio and building coverage ratio restrictions," adding, "Considering the surrounding environment adjacent to Bukhansan and Jeongneungcheon Stream, it was judged that a townhouse form is better than apartments." Townhouses are high-end detached housing clusters that also include auxiliary and welfare facilities, offering the advantage of having independent spaces while enjoying convenience facilities similar to those of apartments.

Located behind Kookmin University, this area is adjacent to Bukhansan Bogukmun Station on the Ui-Sinseol Line. In the 1960s, the area was home to shantytowns built by relocated residents. It is also famous as the area where the late author Park Kyung-ri, who wrote the novel Toji, lived. As most buildings aged over 40 years and became dilapidated, development demands arose, and in 2003, the area was removed from the greenbelt. Subsequently, it was designated as a maintenance district in 2012, the association was established in 2017, and the project implementation approval was applied for last November.

The association plans to receive project implementation approval within this month and proceed with the selection of a construction company. Since it is a large complex with over 1,000 households, major construction companies such as Hyundai Engineering & Construction, GS Engineering & Construction, and Lotte Engineering & Construction are reportedly showing interest. A representative from a Jeongneung-dong real estate agency said, "Although it is not widely known, inquiries about purchases have increased significantly after the public inspection notice," adding, "There is a high proportion of middle-aged and older people who intend to actually reside here after retirement."

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