Yeouido's Oldest 'Sibeom Apartment' New Planning Proposal Confirmed... Up to 65 Floors

10 Months After Joining Sintong Planning... 4 Years Since 'Tong Development' Failed
Floor Area Ratio Raised to 400% and Up to 2,500 Households
Cultural Park by the Han River Through Public Contribution... Redevelopment Zone Designation in Early Next Year

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] The oldest 'Sibeom Apartment' in Yeouido, completed 51 years ago, has finalized a rapid integrated planning proposal for a building up to 65 stories high. This comes four years after the project was put on hold due to the 2018 'Yeouido Master Development' controversy, and just 10 months after joining the rapid integrated planning. After many ups and downs, the project is now back on track, raising expectations that the reconstruction of the aging apartment complexes in Yeouido, which had been stagnant, will accelerate.

On the 7th, Seoul City announced that it had finalized the rapid integrated planning proposal for Yeouido Sibeom Apartment, marking the first major large-scale complex to do so. Rapid integrated planning refers to a process where the private sector leads, but the plan combines business feasibility and public interest, with Seoul City participating from the early stages of the redevelopment project to speed up progress. The rapid integrated planning proposal essentially becomes the redevelopment plan; once residents submit it for approval, it undergoes review and the redevelopment plan is finalized. Seoul City stated, "After public inspection and announcement, the designation of the redevelopment zone is expected to be completed by the first half of next year."

From a 13-Story Mid-Rise Complex to a 65-Story Super High-Rise Apartment

Yeouido Sibeom Apartment (108,800㎡), completed in 1971, is the oldest complex in Yeouido. Over the past 50 years, Yeouido has grown into a financial hub, but the 'Yeouido Apartment District,' including this complex, has aged and been neglected among high-rise buildings, with reconstruction failing to gain momentum. In particular, in 2018, reconstruction was attempted as part of the 'Yeouido Master Development (Master Plan),' but the project was put on hold due to controversies over housing price stimulation.

However, as the need for reconstruction gained strength, the site was selected for rapid integrated planning at the end of last year. Over the past 10 months, the city has prepared the rapid integrated planning proposal through dozens of discussions, plan adjustments, and communication with local governments, residents, and experts. The city focused on flexibly applying urban planning regulations such as height restrictions along the Han River, land use zones, and public contributions according to local characteristics.

According to the finalized rapid integrated planning proposal, the Sibeom Apartment, currently a mid-rise complex with a maximum of 13 floors, will be reborn as a super high-rise apartment up to 65 stories through reconstruction. The basic concept allows buildings near the 63 Building and Park One to harmonize within a height of 200 meters, permitting up to 60-65 floors, while mid- to low-rise buildings will be placed near nearby schools to form a 'U-shaped' skyline, as outlined in the planning guidelines. The total number of households will increase from the current 1,584 to around 2,500. On the premise of public contribution, the floor area ratio will be raised to a maximum quasi-residential area level, applying 400%.

Creating a 'Cultural Park' Along the Han River Through Public Contributions... Linked with 'Great Sunset Han River'

Using the public contribution portion, a 'cultural park' will be created along the Han River. It will be a space combining observation decks and cultural facilities, designed to become a representative attraction of the 'Great Sunset Han River,' a charming waterfront area where visitors can enjoy the beautiful sunset over the Han River. The 'Great Sunset Han River' is a vision of Seoul Mayor Oh Se-hoon to establish sunset viewing points throughout the Han River and lead an era of 30 million foreign tourists.

To strengthen connectivity between Yeouido's downtown and the Han River, which are currently separated by roads, a pedestrian system improvement plan has also been prepared. Currently, the complex and Han River Park are disconnected due to the Wonhyo-daero entrance ramp and roadways, but a three-dimensional pedestrian bridge connecting the cultural park and Han River Park will be constructed here. 'Yeouidaebang-ro,' which was narrow and dark with a sidewalk width of just about 1 meter, making walking uncomfortable, will be significantly widened to 10 meters, and street-level shops will be arranged along the street. Additionally, a pedestrian daily life zone linked with the Yeouido International Business District will be created.

With the confirmation of this rapid integrated planning proposal, the reconstruction project of Sibeom Apartment is expected to accelerate. The redevelopment plan and district unit plan procedures will proceed simultaneously, and the district planning committee's delegated subcommittee and the project implementation plan will be reviewed in an integrated manner.

Jo Namjun, Director of Seoul City's Urban Planning Bureau, said, "Although the reconstruction of Sibeom Apartment has experienced ups and downs and drifted for a long time, it will emerge as a leading model for the reconstruction of residential complexes along the Han River through proactive deregulation and procedural simplification. We will do our best to ensure that rapid integrated planning contributes to housing stability and the expansion of housing supply for Seoul citizens."

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