SH Designated as Public Developer for Bondong Public Redevelopment in Dongjak-gu, Seoul

Seoul Housing & Communities Corporation (SH) announced on November 21 that it has been officially designated as the public developer for the public redevelopment project in Bondong, Dongjak-gu.

Perspective view of public redevelopment in the area around Bondong 47. Provided by SH

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This project involves redeveloping a 51,696-square-meter area of aging low-rise residential buildings at 47 Bondong, Dongjak-gu into a complex with 11 apartment buildings, each with 3 basement floors and 41 above-ground floors, totaling 1,080 households, as well as living SOC facilities.

As the developer, SH will support the entire process, including securing project financing, obtaining approvals for the project implementation plan and management disposition plan, and overseeing completion. The corporation plans to minimize the burden on residents and establish a stable and transparent implementation system.

Currently, SH is carrying out a variety of redevelopment projects, including 14 public redevelopment zones, 2 public reconstruction zones, and 2 station area activation projects, as well as projects in Sewoon District 4 and Junggye Bondong. The corporation has experience normalizing projects that had stalled due to conflicts within associations, difficulties in securing funding, and issues with project viability.

SH plans to leverage this expertise to swiftly and stably advance the Bondong project, which had been delayed due to complex site conditions such as hilly terrain.

Hwang Sangha, President of SH, stated, "By applying public sector expertise and transparency, we will normalize and steadily advance challenging projects to expand housing supply. We will do our utmost to make this a model case of public redevelopment in cooperation with local residents."

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