Integration with Nearby Areas of Yeongdeungpo 1-12 District... Construction of 1,182 Households Mixed-Use Complex

A residential-commercial complex with up to 49 floors and 1,182 households will be built in Yeongdeungpo 1-12 district near Yeongdeungpo Market. The area and number of households have significantly increased compared to the original plan due to integration with nearby redevelopment districts.

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On the 20th, the Seoul Metropolitan Government announced that at the 1st Urban Redevelopment Committee meeting held the previous day, the 'Amendment to the Redevelopment Promotion Plan for Yeongdeungpo 1-12 District in Yeongdeungpo-dong 5-ga 22-3, Yeongdeungpo-gu' was approved with modifications.

With this plan change, Yeongdeungpo 1-14 and 1-18 districts were integrated into Yeongdeungpo 1-12 district. Yeongdeungpo 1-14 district had been stagnant for a long time due to its small area and business feasibility issues, while Yeongdeungpo 1-18 district was removed from the Yeongdeungpo Redevelopment Promotion Zone in 2016. The integration of these districts has created an opportunity to actively promote the final project within the Yeongdeungpo Redevelopment Promotion Zone.

In the redevelopment promotion plan for Yeongdeungpo 1-12 district, the residential ratio in commercial areas was relaxed to support proximity between residence and workplace as a residential area behind Yeouido and Yeongdeungpo downtown and to expand housing supply. A total floor area of 222,615㎡ will be developed with 49 floors above ground, supplying 1,182 households. The originally planned number of apartment households was 413, but this has increased by 769 households. The number of rental housing units is 235, which will be supplied in a mixed arrangement indistinguishable from sale housing.

Considering the existing commercial area of Yeongdeungpo Market and the tenants within the site, 65 public rental shops will be installed. To alleviate parking difficulties in the area and improve convenience for shop users, a public parking lot with 200 spaces will also be constructed. The cultural park for citizens will be expanded from the existing 2,615㎡ to 4,196㎡, and an adjacent public open space of 2,003㎡ will be secured to introduce necessary facilities for the community.

Han Byung-yong, Director of the Seoul Metropolitan Government’s Housing Policy Office, said, "This decision is expected to provide new housing supply within the station area of Yeongdeungpo Market Station as well as improve the urban environment. We will continue to actively support the supply of quality housing and improvement of residential environments through ongoing redevelopment projects in the aging downtown area."

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