Yeongdeungpo Ssokbangchon Reborn as 782 Housing Units Through Public-Led Redevelopment Project

Yeongdeungpo Ssokbangchon Public Housing District Site Plan

Korea Land and Housing Corporation (LH) announced on the 8th that it will actively promote the 'Yeongdeungpo Ssokbangchon Public Housing Project' following the approval and announcement of the district plan for the Yeongdeungpo Ssokbangchon public housing district project.

The Yeongdeungpo Ssokbangchon Public Housing Project is the first public-led redevelopment project for Ssokbangchon, aiming to improve the poor living conditions of Ssokbang residents and supply quality housing within Seoul's urban railway station areas to Ssokbang residents, newlyweds, and young people. LH, Yeongdeungpo-gu, Seoul, and SH are jointly implementing the project.

Since the designation of the public housing district in July 2020, continuous consultations with residents have been held, and in August, compensation notices were issued. With the approval and announcement of the district plan this time, the administrative procedures for starting the project have been completed.

Through this project, a total of 782 housing units will be supplied, including △370 rental housing units for Ssokbang residents △91 rental housing units for young people and newlyweds △182 public sale housing units and 139 private sale housing units.

While promoting this project, LH utilized a 'prior relocation and virtuous cycle' method to prevent the displacement of Ssokbang residents within the district.

About 140 Ssokbang residents will live in temporary relocation spaces prepared inside and outside the district during the rental housing construction period, and once the rental housing construction is completed, they will move into public rental housing. Demolition and construction will proceed in phases to support the residents' stable relocation.

In addition, a resident consultative body involving the Residents' Countermeasure Committee, LH, SH, and Yeongdeungpo-gu was formed to reflect land-for-land compensation for landowners and public sale housing for building owners in the district plan, thereby supporting the resettlement of original residents.

To ensure the successful resettlement of Ssokbang residents, public rental housing will also include care facilities and self-support facilities to provide various services.

LH will hold a design competition for rental housing construction by the end of this year to establish an architectural plan reflecting care facilities and others.

Park Dong-seon, Head of LH's Regional Balanced Development Headquarters, stated, "We plan to actively promote the project with the goal of starting construction in 2023 and having residents move into rental housing by the end of 2026."

Meanwhile, on the 25th of last month, a revision to the Public Housing Special Act was prepared, led by Kim Jeong-jae, a member of the People Power Party, which introduces a special provision applying the in-kind compensation system of urban public housing complex projects to the Ssokbangchon public housing project, raising expectations for smoother project implementation.

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