Bucheon-si Begins Construction of First 'Apartment-Style Village Parking Lot' in Yeowol-dong

The planned site for the 'Apartment-like Village Parking Lot' located at 9-28 Yeowol-dong area
[Photo provided by Bucheon City]

[Asia Economy Reporter Park Hyesook] Bucheon City in Gyeonggi Province announced on the 18th that it will begin construction of the first "Apartment-like Village Parking Lot (Bucheon Yeowol LH Participatory Street Housing Maintenance Project)" in the area of 9-28 Yeowol-dong.

The apartment-like village parking lot is the first project nationwide to combine a small-scale housing maintenance project with a public parking lot.

According to the agreement signed in 2019 between Bucheon City, the association, and LH, the association will provide land for the construction of the public parking lot, and the city will cover the construction costs and rental fees to create 85 public parking spaces on two underground floors.

The project, with a total budget of 4.6 billion KRW, is supported by 3.3 billion KRW from national and provincial funds, and aims for completion in December 2023 and operation starting January 2024.

Upon completion, this project will not only alleviate parking inconveniences for residents in the old downtown area but also reduce the city’s budget expenditure for creating village parking lots.

When creating one village parking space, Bucheon City’s budget expenditure is approximately 15 million KRW, making it an excellent example of budget savings.

A Bucheon City official stated, "The second village parking lot project within the Samhyeop Yeonrip 3rd Street Housing Maintenance Project at 117 Goean-dong is also scheduled to start construction within the first quarter," adding, "Although securing national and provincial funds is challenging, we will devote ourselves to the village parking lot creation project to resolve parking difficulties in the old downtown area."

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