Aging Residential Area in Gyesandong, Incheon to Be Redeveloped by 2030 with 29.6 Billion Won Investment

On December 19, Incheon City announced that the Gyesandong district in Gyeyang-gu has been selected as a target site in the Ministry of Land, Infrastructure and Transport's "Aging Residential Area Redevelopment Support Project" competition.

From next year until 2030, the city plans to invest a total of 29.6 billion won, including 14.8 billion won in national funds and 14.8 billion won in city and district funds, to establish a community center and a public parking lot in the area, as well as to carry out plaza and park remodeling projects.

A target area for the redevelopment project of aging residential districts in the Gyesandong area. Incheon City

Although this area is located near a station on Incheon Subway Line 1, it has faced difficulties with full-scale redevelopment due to its proximity to Bupyeong Hyanggyo, a historical and cultural facility. The city plans to systematically improve the residential environment of the aging low-rise housing areas in Gyesandong and promote voluntary housing maintenance.

Last year, the city failed to win selection in the urban regeneration project competition in the second half of the year. However, by significantly reducing the project scale to focus on the local living area and changing the competition category from "local specialized regeneration" to "aging residential area redevelopment support project," the city developed a new strategy and was selected this time.

An official from Incheon City stated, "We expect this project will not only improve the residential environment and promote voluntary housing maintenance in aging residential areas, but also help enhance the local economy and living convenience."

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