Gwangmyeong Haan District to Promote 'Public Redevelopment'... Supplying Over 1,900 Housing Units

[Asia Economy (Gwangmyeong) = Reporter Lee Young-gyu] Haan District in Haan-dong, Gwangmyeong, Gyeonggi Province, will be developed through the 'public redevelopment' method. A total of about 1,900 housing units will be built there.

On the 19th, Gyeonggi Province announced that it will promote 'public redevelopment' in Haan-dong, Gwangmyeong City, on a scale of 96,000㎡, led by the public sector to significantly shorten the project period and allocate a portion of the supply as rental housing.

This selection of the Gwangmyeong public redevelopment candidate site is the second after last July's supply of about 8,200 households in ▲Gwangmyeong District 7 (Gwangmyeong-dong, 119,791㎡) ▲Goyang Wondang Districts 6 and 7 (Seongsa-dong, Deogyang-gu, Goyang City, 162,311㎡) ▲Hwaseong Jinan Districts 1-2 (Jinan-dong, Hwaseong City, 11,778㎡).

Gwangmyeong Haan District, which consists of about 350 detached houses, will increase to about 1,900 households when promoted as a public redevelopment project.

The preliminary project implementer, Gyeonggi Housing and Urban Corporation (GH), plans to hold an on-site briefing session for residents of the candidate site to explain the main contents and expected effects of public redevelopment, collect residents' opinions, and proceed with the establishment of a maintenance plan (draft) and the consent procedure for designation of the public implementer within the year.

Public redevelopment is a redevelopment project promoted with the participation of public institutions such as GH in the maintenance project.

Private redevelopment promoted by associations often faces conflicts and lawsuits among members over project costs amounting to hundreds of billions of won, causing the project period from district designation to groundbreaking to extend to an average of 12 years. Such project delays increase the burden on members due to interest on project loans.

On the other hand, public redevelopment lowers the burden on members by increasing the floor area ratio up to 1.2 times the legal limit, integrates reviews such as building and traffic for faster approval, and shortens the project period to within five years through an integrated project plan review system. In exchange for the increased floor area ratio, more than 10% of the total households are supplied as public rental housing as a contribution to the public.

Meanwhile, the province judged that the public redevelopment candidate sites have a high risk of inflow of real estate speculation forces due to benefits such as floor area ratio relaxation and simplified project procedures, and designated the area as a land transaction permission zone from August 24, 2022, to August 23, 2025.

To trade land of 60㎡ or more in residential areas within the land transaction permission zone, permission from the mayor of Gwangmyeong City is required. If a land transaction contract is concluded without permission, imprisonment for up to two years or a fine of up to 30% of the land price will be imposed. For residential land, sales and leasing are restricted for two years and must be used only for actual residence.

Additionally, to block speculative forces entering to acquire pre-sale rights, the 19th was announced as the 'right calculation standard date' for purchasing buildings within the candidate site.

After the standard date, acquiring ownership through ▲land division ▲conversion of detached houses into multi-family houses ▲separating ownership of land and buildings owned by the same person on one lot ▲building multi-family housing on vacant land will not grant the right to apply for pre-sale, preventing speculation.

Hong Ji-seon, Director of the Urban Housing Office of the province, said, "Public redevelopment can provide residents with opportunities to own homes faster and in greater numbers through rapid project promotion and floor area ratio relaxation," adding, "We will also secure public rental housing for displaced residents and tenants to contribute to housing stability."

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