'Land Swap of Songhyeon-dong Site' Allows Construction of Apartment Complex on South Side Site of Seoul Medical Center
Seoul City Holds Urban Planning Committee Meeting and Approves Amendment to District Unit Plan for International Exchange Complex Zone
[Asia Economy Reporter Kim Hyemin] Joint housing construction will be permitted on the southern site of the former Seoul Medical Center, which has been decided to be exchanged for the Songhyeon-dong site in Jongno-gu, Seoul.
On the 24th, Seoul City held the 19th Urban and Architectural Joint Committee and announced on the 25th that it had approved a modified plan to change the district unit plan for the International Exchange Complex District in Samseong-dong, Gangnam-gu.
This is a follow-up measure following Seoul City's acquisition of the Songhyeon-dong site owned by Korean Air. Previously, Seoul City, Korean Air, and Korea Land and Housing Corporation (LH) agreed on a three-party contract method in which Seoul City would purchase the Songhyeon-dong site, LH would pay the sale price, and Seoul City would provide LH with city-owned land of equivalent value. The land to be transferred to LH was confirmed as the southern site of the former Seoul Medical Center.
Accordingly, the city split the site, originally designated as one special planning zone, into two special planning zones to consider a separate site to provide to LH, and allowed joint housing development on the southern site.
The land use for the site provided by Seoul City to LH will maintain the quasi-residential area designation, but joint housing will be limited to about 20-30% of the total above-ground floor area. Although LH can supply housing on the southern site, it cannot designate the entire site for housing and must develop it as a complex including convention and office facilities.
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The northern site of the former Seoul Medical Center was announced by the government last year in the August 4th supply plan to provide 3,000 public housing units, but Seoul Mayor Oh Se-hoon expressed reluctance. The city plans to gather opinions from residents and experts to devise the intended use.
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