Seoul City to Supply 2,500 Apartment Units in Jangwi 14 District

[Asia Economy Reporter Kim Min-young] A total of 2,500 apartment units will be supplied in Jangwi 14 District, Seongbuk-gu, Seoul, which resumed redevelopment projects after overcoming the risk of zone cancellation.

On the 5th, Seoul City held the 3rd Urban Redevelopment Committee meeting and announced on the 6th that it had approved the revised promotion plan for the Jangwi 14 Redevelopment Promotion Zone in Jangwi-dong, Seongbuk-gu. Jangwi 14 District, the largest redevelopment project in the Seongbuk area of Seoul, faced the risk of zone cancellation in 2018 but resumed the project through a residents' vote. According to the approved promotion plan for Jangwi 14 District, the zone area is 145,000㎡, and a total of 2,500 households will be built. Among them, 426 public housing units will be mixed with sale housing units.

Public facilities such as two public parking lots (with a capacity of about 540 cars) needed in the area, children's and youth sports facilities, and a comprehensive social welfare center will also be installed. In addition, Jangwi-ro, a two-lane road facing the northern part of the zone, will be expanded to a width of 20 meters. Considering the surrounding area's skyline and the terrain of the complex, building heights inside the complex will be allowed up to 25 floors, while areas adjacent to Jangwi-ro in the north and Odong Neighborhood Park in the south will be arranged around 12 floors. In particular, by linking Jangwi-ro and Odong Neighborhood Park, a north-south scenic axis will be secured, and a public pedestrian passageway over 30 meters wide will be connected in the center of the complex to provide walking convenience to residents using the park.

With the decision on this revised redevelopment promotion plan, Jangwi 14 District will proceed with the project implementation approval process after review by the Seoul City Architecture Committee. Lee Jin-hyung, Director of Housing Supply Planning at Seoul City, said, "We expect that expanding supply will contribute to stabilizing the housing market and greatly help in expanding customized local infrastructure through public contributions."

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