Redevelopment of the Daerim 1 district in Yeongdeungpo-gu, Seoul, will move forward through the expedited integrated planning (Xin-tong planning). An apartment complex with up to 35 floors and 1,026 households will be built. The area was designated a special disaster zone due to the heavy downpours in 2022.
The Seoul city government said on the 10th it will push tailored redevelopment of the Daerim 1 district around 855-1 Daerim-dong by applying Expedited Integrated Planning 2.0.
Daerim 1 district will receive Expedited Integrated Planning 2.0, which Seoul released in Jul., and plans to shorten the expected average 18 years and 6 months for the maintenance project to about 12 years. The area was selected as a Xin-tong planning redevelopment candidate site in Dec. 2022, designated as a maintenance zone in Mar. this year about two years later, and last month obtained promotion committee approval eight months after application. The project now aims to obtain approval to establish the association in the first half of next year.
To speed up the Daerim 1 district maintenance project, the Seoul city government reflected the 2030 master plan and improved project conditions by, among other steps, ▲ easing the allowable floor area ratio (up to 20%) ▲ applying a business feasibility adjustment coefficient (1.53%). The zoning of the target site was upgraded from general residential type 2 to general residential type 3. The city also broadly eased the floor area ratio from 250% to 285% by expanding application of the business feasibility adjustment coefficient (1.53) and the allowable FAR incentive (up to 20%). The proportional allocation rate for association members is currently around 115%.
Given that the area is prone to frequent flooding, the Seoul city government will build a large underground detention tank with a capacity of 15,000 tons beneath a park inside the complex. To allow original residents to move into new apartments stably without bearing additional contributions, unit types (sizes) will be allocated with a focus on small, owner-occupied layouts. To ease local parking shortages, a 253-space public parking lot will also be built, and public contribution facilities such as social welfare facilities and parks will be secured.
Visiting the Daerim 1 district on site the same day, Mayor Oh said, "Due to the government's Oct. 15 real estate regulatory measures, transaction right transfer restrictions for association members and tighter relocation loan regulations are expected to lead to a contraction in transactions and increased project burdens," and added, "We will listen closely on the ground so that residents' difficulties are resolved quickly and accurately, convey to the government what must be conveyed, and clearly demand improvements where needed."