Mapo Ahyeon 1 District Public Redevelopment in Full Swing... Relief for 581 Cash Settlement Targets

Mapo-gu, Seoul announced on the 6th that it will actively promote public redevelopment by rescuing 581 cash settlement targets in Ahyeon 1 District (around Ahyeon-dong 699 area).

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Ahyeon 1 District has a building aging rate of over 83%. Due to a lack of infrastructure such as roads and parks, demands for redevelopment have been steadily raised. Since being selected as a public redevelopment candidate site in August 2022, the maintenance plan is currently underway.

However, from the 1980s to the early 2000s, landowners in Ahyeon 1 District independently renovated deteriorated old houses, and in multi-family houses, issues of shared ownership arose as owners of different floors shared land or used underground common spaces as separate residential areas. As a result, out of a total of 740 landowners, all 740 faced the risk of becoming cash settlement targets without qualifying for allocation.

To minimize the departure of original residents, Mapo-gu continuously consulted with Seoul Housing and Communities Corporation (SH Corporation) and the Public Redevelopment Preparation Committee (representatives of local residents). As a result, by introducing a minimum size of communal housing (14㎡) and lowering the sale price, 581 people, accounting for 78% of the initial 740 cash settlement targets, were rescued.

Park Gang-su, the district mayor, stated, "We will prioritize the housing stability of original residents and actively communicate with residents while promoting the project."

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