Gyeonggi-do Announces 'Garojutaek Maintenance Project' Contest with GH

Gyeonggi Provincial Government

Gyeonggi Province will publicly recruit ‘Public Participation-Type Street Housing Redevelopment Project Candidate Sites’ from May 31 to July 26.

The street housing redevelopment project, in which Gyeonggi Housing and Urban Corporation (GH) participates, is a type of small-scale housing redevelopment project where GH acts as the sole implementer or a joint implementer together with the association, rather than the association acting alone.

The association oversees all aspects of project implementation, while GH supports permits and sales, allowing the redevelopment project, which usually takes more than 10 years, to be promoted quickly and stably through this division of roles.

When GH participates as a joint implementer, the funds required for the project are borrowed at low interest from the Housing and Urban Guarantee Corporation (HUG) fund and used as project expenses; if project funds are insufficient, GH procures funds at market interest rates.

When a public institution participates as the project implementer, a special case allowing the project area to be expanded up to 40,000㎡ is also applied. In this recruitment, additional points are given if the project site includes semi-basement houses or is in a management area.

In particular, the project will be prioritized at sites including semi-basement buildings to construct a certain portion of rental housing and provide it to residents living in semi-basements.

Earlier, GH completed the first public participation-type street housing redevelopment project in Yeokgok-dong, Bucheon City, in March of this year.

In April, the ‘Gyeonggi-do Ordinance on Vacant Houses and Small-Scale Housing Redevelopment’ was amended to encourage the participation of public implementers and activate the project.

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