Seoul City Revises Basic Maintenance Project Plan... Adjusts Floor Area Ratio Incentives

Adjust Floor Area Ratio to Encourage Redevelopment of Aging Overcrowded Complexes
Incentives for Floor Area Ratio When Reflecting Open Spaces and Eco-Friendly Features

Public Inspection on the 30th, Official Announcement in September

Seoul City announced on the 30th that it will reorganize the '2030 Urban and Residential Environment Maintenance Master Plan' (hereinafter referred to as the Master Plan), which serves as the guideline for redevelopment and reconstruction maintenance projects. The main point is the expansion of floor area ratio incentives in a direction that induces maintenance projects for aging overcrowded housing and emphasizes public interest and eco-friendliness.

The original Master Plan was established with two main goals beyond preservation: ▲ housing supply to revitalize maintenance projects ▲ large-scale remodeling of residential spaces. In particular, the application plan for the business feasibility correction coefficient and recognition of the current floor area ratio, which were part of the 'Redevelopment and Reconstruction Project Support' released in March, have been newly included.

The business feasibility correction coefficient is a system that applies a correction coefficient of up to 2.0 to the allowable floor area ratio, considering land price, complex size, and degree of overcrowding in areas lacking business feasibility. Reflecting this, the range of allowable floor area ratio incentives, currently about 20%, can increase up to 40%. The allowable floor area ratio is the floor area ratio determined through district unit planning, which is the sum of the standard floor area ratio and the floor area ratio provided as an incentive. A higher allowable floor area ratio can increase the number of general sale units instead of rental units, improving business feasibility.

For complexes or areas already built exceeding the current ordinance or allowable floor area ratio, the 'current floor area ratio (floor area ratio recorded in the building register)' is recognized as the standard or allowable floor area ratio to preserve business feasibility as much as possible. In Seoul, there are 149 aging complexes (87,000 households) that were legally built before the 2004 tax subdivision but have become overcrowded complexes due to system changes, causing project stagnation.

In addition, the city included provisions to abolish the height restriction of 4 floors in Type 1 General Residential Areas and allow heights up to those stipulated by law (up to 6 floors including pilotis), and to expand the legal maximum floor area ratio from the existing 150% to 200%. When upgrading one zoning level, the public contribution ratio is adjusted to be uniformly applied at 10% to prevent excessive public contributions from offsetting the momentum of project promotion.

For 'development blind spots' where maintenance projects are difficult due to various regulations and resident opposition, a small-scale maintenance-type residential environment improvement project (Human Town 2.0) will be promoted. This is not a full demolition apartment development but a method supporting individual building maintenance such as multi-family, multiplex, and row houses. Building standards such as floor area ratio and building coverage ratio will be relaxed, and financial support such as construction cost loans and tax reductions, as well as infrastructure expansion, will be provided.

To revitalize maintenance projects while securing public interest, incentive measures have also been prepared. A representative example is the expansion of allowable floor area ratio incentive items from the existing 6 to 12. Incentive items added include the creation of public pedestrian paths and open complexes, installation of care and elderly service facilities, barrier-free certification for the disabled, creation of eco-friendly buildings and waterfront-friendly spaces, and installation of urban air mobility facilities.

Additionally, existing infrastructure such as roads can be reviewed for relocation or restructuring considering connectivity with surrounding areas.

The Master Plan will be open for public viewing from today until the 13th of next month, followed by hearings with the City Council, review by the Urban Planning Committee, and is scheduled to be finally announced in September.

Han Byung-yong, Director of Seoul City's Housing Policy Office, said, "Through this reorganization of the Master Plan, maintenance conditions will be greatly improved, which is expected to breathe new life into projects that have lacked momentum so far. Even after reorganizing the Master Plan, we will continue to refine and discover systems to ensure citizens' housing stability and a pleasant residential environment."

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