Ahyeon District 1 in Mapo-gu to Undergo Public Redevelopment for 3,476 Residential Units

581 out of 740 at Risk of Cash Settlement Retain Their Homes

Ahyeon District 1 in Mapo-gu, known as a filming location for the movie "Parasite," will be transformed into a large-scale complex with up to 35 floors and a total of 3,476 residential units through a public redevelopment project.

Perspective view of Ahyeon District 1. Provided by Mapo-gu Office.

On March 23, Mapo-gu, Seoul (Mayor Park Kangsoo) announced that the "Ahyeon District 1 Housing Redevelopment-Type Public Redevelopment Project Plan Decision and Redevelopment Zone Designation (Draft)" had been approved with amendments by the 4th Urban Planning Committee's delegated subcommittee of the Seoul Metropolitan Government on March 19.

Ahyeon District 1 is a hilly area with an elevation difference of up to 59 meters, where over 83% of the buildings are old and infrastructure such as roads and parks is severely lacking. Under the new redevelopment plan, roads will be widened, pedestrian safety will be enhanced, and parks will be created to blend with the local landscape. Thanks to special provisions for public redevelopment, construction will be allowed up to 120% of the legal floor area ratio, enabling buildings as tall as 35 floors (up to 110 meters).

The key focus of this project is measures to aid those subject to cash settlements. The Ahyeon District 1 area is home to many villas built between the 1980s and early 2000s through self-help methods, resulting in a complex ownership structure that includes basement unit sales and fragmented ownership. As a result, more than a quarter of land and property owners, approximately 740 people, were at risk of being subject to cash settlement.

Mapo-gu, based on a Seoul city ordinance allowing co-owners whose share value is at least equivalent to the estimated cost of one minimum-sized apartment for sale to be recognized as eligible for allocation, collaborated with SH Corporation and the Public Redevelopment Preparatory Committee to devise a plan introducing 14 square meter minimum-sized apartments. As a result, 581 out of the 740 individuals (78%) who were at risk of cash settlement were able to keep their homes.

Mayor Park Kangsoo stated, "With the decision on the redevelopment plan for Ahyeon District 1, the environment in the Gongdeok and Ahyeon areas will be greatly improved," adding, "We will do our utmost to support the resettlement of original residents and to ensure the redevelopment project proceeds smoothly."

Location map of Ahyeon 1 District. Provided by Mapo-gu.

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