Seoul City and SH "Purchase 100 Semi-basement Houses within 3 Years through Autonomous Housing Maintenance"

Seoul City and Seoul Housing and Communities Corporation (SH Corporation) announced on the 14th that they will renovate 100 semi-basement houses by 2026 using the Autonomous Housing Maintenance Project.

SH Corporation Headquarters Building

To this end, SH Corporation announced on the 7th the '2023 1st Autonomous Housing Maintenance Project Purchase of Rental Housing for the Resolution of Semi-basement Houses.'

Seoul City and SH Corporation have been promoting a plan to induce residents of semi-basement houses, which are highly vulnerable to flooding and evacuation during disasters, to relocate, while renovating through housing purchases.

The Autonomous Housing Maintenance Project is a project where two or more landowners renovate detached, multi-family, or row houses. It requires meeting conditions such as having fewer than 18 detached houses or fewer than 36 detached + multi-family houses, and the existing houses must be more than two-thirds aged.

If 20% or more of the total floor area or number of households is provided as public rental housing through the Autonomous Housing Maintenance Project, incentives are given to increase the floor area ratio up to the legal limit.

The purchase target of this announcement must include semi-basement houses (housing use according to the building register) within the project site.

Priority points will be given during the review if the semi-basement houses have a history of flooding, are located in one of the seven autonomous districts that Seoul City requested to be designated as special disaster zones last year, or if two-thirds or more of the house is buried underground.

Submitted houses will be selected after on-site investigation and review procedures. Confirmation of receipt and review schedules will be separately notified to applicants.

Kim Heon-dong, President of SH Corporation, said, "We will use the Autonomous Housing Maintenance Project, which can develop multiple semi-basement lots, to renovate semi-basement and flood-prone houses and provide upgraded housing."

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