83.8% of Residents in 1st Generation New Towns Say "Apartment Redevelopment Needed"… Prefer Floor Area Ratio Below 300%

[Asia Economy (Suwon) = Reporter Lee Young-gyu] 83.8% of residents in the first-generation new towns in Gyeonggi-do believe that apartment redevelopment such as reconstruction and remodeling is necessary, with a preference for reconstruction forms having a floor area ratio of 300% or less and 21 to 30 floors.

The Gyeonggi Research Institute recently announced on the 9th that it published a report titled "Gyeonggi Residents Expect a New First-Generation New Town," which contains the results of a survey conducted from March to April targeting 500 households in first-generation new towns such as Bundang, Sanbon, Ilsan, Pyeongchon, and Jungdong within the province.

According to the report, 83.8% of new town residents responded that "redevelopment of their residential apartments is necessary." By new town, the percentages were Jungdong 88.6%, Sanbon 86.7%, Ilsan 84.1%, Pyeongchon 83.8%, and Bundang 80.4%, in that order.

Previously, the government developed five locations in the province?Bundang, Sanbon, Ilsan, Pyeongchon, and Jungdong?as first-generation new towns between 1991 and 1993. These new towns are now experiencing building aging as more than 30 years have passed since their completion. Interest has grown especially since the new government pledged to prepare a comprehensive redevelopment plan for the rebirth of first-generation new towns, including reconstruction and remodeling. Reflecting this, during the Gyeonggi Province governor election held on the 1st, sharp debates arose between the current governor-elect Kim Dong-yeon and the People Power Party candidate Kim Eun-hye regarding the development methods for first-generation new towns.

The survey results from the research institute showed that the preference for redevelopment methods was higher for reconstruction (48.4%) than remodeling (35.1%) and maintenance/management (16.5%).

However, by region, there were some differences in preferences for redevelopment methods: Bundang reconstruction 51.9%, remodeling 29.6%; Sanbon reconstruction 35.4%, remodeling 44.6%; Ilsan reconstruction 46.3%, remodeling 36.8%; Pyeongchon reconstruction 67.7%, remodeling 25.8%; Jungdong reconstruction 38.7%, remodeling 43.5%.

Regarding reasons for preference (multiple responses allowed), reconstruction was favored for free floor plan and complex design (61.6%) and securing structural stability (51.7%), while remodeling was preferred for shorter project duration (72.1%) and cost reduction/environmental friendliness (71.4%).

As for the appropriate timing for project implementation, 21.2% preferred within 2 years, 41.6% within 2 to 5 years, totaling 62.8% favoring within 5 years. Within 5 to 10 years was 26.4%, and over 10 years was 10.8%.

Regarding willingness to bear project costs, 72.8% agreed. The additional burden considered appropriate (after distribution of general sale profits) was 128 million KRW.

For reconstruction, the suitable floor area ratio was 300% or less at 47.8%, and the preferred number of floors was 21 to 30 floors at 56.2%. Integrated redevelopment between complexes (80.3%), support from the state and government (86.7%), and residential stability measures such as cyclical development and adjustment of reconstruction timing (80.8%) also had agreement rates exceeding 50%.

Regional improvement needs were identified as strengthening connectivity between cities for Ilsan (56.6%) and Pyeongchon (44.6%), expanding street green spaces for Sanbon (40.0%) and Jungdong (47.1%), and the need for technology-based urban management for Bundang (43.5%).

Senior Research Fellow Jang Yoon-bae of the Gyeonggi Research Institute advised, "As a redevelopment strategy for first-generation new towns, it is necessary to reflect future urban development trends in redevelopment, establish a growth system that recycles idle spaces and facilities, and redevelop aging facilities. It is also necessary for the government to prepare administrative and financial support measures so that Gyeonggi-do can establish complex plans aligned with development plans at the local government level."

Meanwhile, residents' satisfaction with their current complexes was only 26.0%, with major dissatisfaction causes cited as noise and vibration (64.8%), insulation and windproofing (48.6%), and leakage and mold (45.0%).

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