Siheung-si to Purchase 14,900㎡ of Parking Lot Land to Alleviate Parking Shortage in Janghyeon District

Collective Purchase of 13 Unsold Parcels to Create 400 Parking Spaces

Siheung City in Gyeonggi Province has decided to collectively purchase 14,900㎡ of unsold parking lot land within the Janghyeon Public Housing District to alleviate parking difficulties in the area.

On the 31st, Siheung City signed the "Siheung Janghyeon District Parking Environment Improvement Business Agreement" with the Korea Land and Housing Corporation (LH) Gwangmyeong-Siheung Project Headquarters at the city hall, containing these details.

Im Byung-taek (left), Mayor of Siheung, and Choi Yong-taek, Head of LH Gwangmyeong-Siheung Project Headquarters, are holding up the agreement after signing a business agreement for the bulk purchase of parking lot land within Janghyeon District. Photo by Siheung City

The Janghyeon District is a public housing district developed on approximately 2,939,000㎡ across Janggok, Janghyeon, Gwangseok, Neunggok, Gunja, and Hajung-dong areas of Siheung City, consisting of about 19,000 households. The first residents moved in in 2019. However, serious parking difficulties have persisted, especially in areas densely populated with single-family homes and commercial buildings, leading to ongoing complaints from residents. The city explained that after discussing improvement measures to resolve parking issues within the district with LH since last year, this agreement was reached.

Under this agreement, the city will collectively purchase 13 unsold parcels totaling 14,898㎡ out of 19 parking lot sites within the district. The purchased land will be developed into shared parking lots, providing approximately 400 parking spaces open to citizens.

To ease the city's purchasing burden, LH agreed to reduce the contract deposit from 10% to 5% and to cooperate by leasing the land for the shared parking lots free of charge upon signing the agreement. The city plans to prioritize developing five locations where parking problems are most urgent. To this end, the city will prepare the first supplementary budget and complete the land purchase contracts by the end of April, then sequentially develop and open the parking lots.

Im Byeong-taek, Mayor of Siheung City, said, "I hope this agreement becomes a good model of cooperation between public institutions, resolving parking inconveniences and improving the quality of life for citizens."

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