Seoul City Receives 16 Applications for 'Moatown Public Management' Contest... Selection in November
by Kim Hye Min
Published 22 Sep.2024 11:15(KST)
Priority Selection of Areas Around Cultural Heritage Sites and Hills
Final Selection of About 10 Sites After Feasibility Review
Seoul City announced on the 22nd that 16 locations, totaling 37 project zones, applied for the 'Moatown Public Management' project site recruitment.
Moatown Public Management targets areas selected as Moatown but face unfavorable project conditions making it difficult to proceed independently. Public institutions such as Seoul Housing and Communities Corporation (SH) and Korea Land and Housing Corporation (LH) support the establishment of management plans and associations. Once the association is established, the project is carried out jointly with the public institution upon obtaining the consent of the majority of association members. The city conducted the recruitment from the 2nd to the 13th of this month.
This recruitment received applications from 11 autonomous districts and 37 zones within 16 Moatown areas, including ▲ 619-641 Ilwon-dong, Gangnam-gu ▲ 279 Sangdo-dong, Dongjak-gu ▲ 392-9 Suyu-dong, Gangbuk-gu, among others. Of the 37 zones, 20 secured the final consent rate, while zones with only over 10% consent must increase their consent rate by November 20 to be eligible for the selection committee review.
The city plans to hold a selection committee meeting to comprehensively review project feasibility and the necessity of public institution participation, aiming to select about 10 final locations by the end of November. Selected zones will benefit from cooperation with public institutions, including ▲ possible expansion of project area (within 40,000㎡) ▲ relaxation of the rental housing donation ratio due to zoning upgrades (from 50% to 30%) ▲ low-interest project financing support ▲ technical support such as project feasibility analysis.
Han Byung-yong, Director of the Housing Office at Seoul City, said, "Resident consent rate is crucial for project promotion," adding, "Selected sites will be able to proceed swiftly through cooperation with public institutions and various benefits."
Status of 'Moatown Public Management' Applications by Autonomous District (Provided by Seoul City)
원본보기 아이콘© The Asia Business Daily(www.asiae.co.kr). All rights reserved.