Approval of Management Disposition for Noryangjin 5 District in Dongjak-gu... Transformed into up to 28 Floors
Permit Processing Time Drastically Reduced by 8 Months... Redevelopment in Dongjak-gu Gains Momentum
Dongjak-gu (Mayor Park Il-ha) announced on the 5th that last month it approved the management disposition plan, the final hurdle of the redevelopment maintenance project, for the Noryangjin 5 Redevelopment Promotion Zone (hereinafter Noryangjin 5 District).
This is a remarkable achievement made 7 years after the establishment of the Noryangjin 5 District Redevelopment Association, and the permit processing period was completed in 119 days, drastically shortened by 8 months.
Noryangjin 5 District (around 270-3, Noryangjin-dong) covers an area of 38,017㎡ and is expected to be transformed into a new apartment complex consisting of 9 buildings with 727 households, including underground 5 to aboveground 28-story apartment buildings and neighborhood living facilities.
After preparing for relocation in the second half of this year, relocation and demolition work are planned for next year.
The Noryangjin Redevelopment Promotion District consists of a total of 8 zones. Noryangjin 5 District is the fifth to receive approval for the management disposition plan following districts 6, 2, 8, and 4, and it is expected to accelerate the progress of the Noryangjin New Town project.
In particular, the Noryangjin area is evaluated as a key location in the southwestern part of Seoul, easily accessible from anywhere in the city center, and it is anticipated to undergo a dramatic transformation in the near future.
Since the launch of the 8th term of the civil administration, the district has been promoting the ‘Dongjak-gu style redevelopment and reconstruction’ model to supply high-quality residential areas by shortening the maintenance project period by more than half compared to before.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- [New York Stock Exchange] Major Indexes Close Up Over 1% as Treasury Yields and Oil Prices Fall
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Park Il-ha, Mayor of Dongjak-gu, emphasized, “We will continue to do our best to expedite redevelopment through prior consultations and consulting with the association,” adding, “Various development projects in Dongjak will be carried out faster than anywhere else, drastically changing the city’s map.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.