A residential-office complex up to 42 stories will be built in the old business district around Namyeong-dong in Yongsan-gu, Seoul.
The Seoul Metropolitan Government said on the 5th that it convened the 11th integrated review committee for maintenance projects and approved with modifications and conditional approval the integrated review plan across eight areas, including maintenance planning and architecture, landscape, and traffic, for the "Namyeong-dong business district zone 2 urban maintenance-type redevelopment project" around 92, Galwol-dong in Yongsan-gu.
The site has a project area of 17,658.8㎡, a total floor area of 213,274㎡, a floor area ratio of 869.44%, and a maximum building height of 149.9 meters. Located along Hangang-daero adjacent to subway lines 1 and 4, it sits on a key axis of Yongsan's metropolitan center. However, the need for improvement had been raised due to aging buildings and low-density development.
With this review approved, the area will see three residential buildings from eight underground floors to 42 above-ground floors and one 35-story office building. A total of 672 dwellings (80 public dwellings) will be supplied. Retail and fitness facilities are planned from the first basement level to the first floor above ground.
Within the complex, resident amenities such as a senior center, a daycare center, and a small library will be created. Through contributed acceptance, a public rental office facility of about 15,000㎡ and the Namyeong-dong integrated government building of about 5,700㎡ will also be built.
Namyeong-dong business district zone 2 was designated as a maintenance zone in 2022 and received approval for the establishment of a cooperative in 2023. After the Seoul Metropolitan Government revised the "2030 Seoul urban and residential environment maintenance master plan," increases in building height and easing of the use-district floor area ratio system were applied, improving the project's profitability.