The Seoul city government will push ahead in earnest with the "growth-hub urban complex development project," which will foster major centers and areas around transfer stations as high-density mixed-use hubs that combine office, commercial, and residential functions.
According to the Seoul city government on the 31st, the project focuses on creating new growth hubs by increasing development density in the downtown, metropolitan centers, and areas around transfer stations with excellent public transit accessibility.
Project sites will be selected mainly within 500 meters of centers and transfer stations designated in the Seoul Urban Master Plan. Depending on development conditions, if the zoning is upgraded to a general commercial area, the floor area ratio can be applied up to a maximum of 1,300%.
To推进 the project, the Seoul city government has completed the enactment of related local government ordinances and enforcement rules, and has also prepared operating standards that include criteria for selecting target sites and procedures for establishing mixed-use development plans.
The public contribution ratio will apply 50% of the increased floor area ratio resulting from zoning upgrades, but it will be eased to 30% for districts where the average officially assessed land price is 60% or less of the Seoul average.
The city plans to begin selecting candidate sites for pilot projects in June by receiving recommendations and proposals from district offices.
Through this project, the Seoul city government aims to spur development around centers and transfer stations and to strengthen downtown functions while promoting balanced regional development.