Oh Se-hoon, the Seoul mayor, visited redevelopment sites around Seogye and Cheongpa-dong in Yongsan District on the 11th to check the dwelling supply impact of urban renewal projects and the status of improvements to aging residential areas, and to listen to residents' views.
The city said the site visit was arranged to confirm on the ground and through data that, contrary to some claims that redevelopment and reconstruction do not actually increase the number of dwellings, urban renewal projects are a key means of expanding Seoul's dwelling supply and improving the residential environment.
Currently, seven private urban renewal projects, including fast-track integrated planning redevelopment and the Moa Town initiative, are underway around Seogye and Cheongpa-dong. Excluding Cheongpa District 3, where plans have not been finalized, the remaining six alone are expected to produce a net increase of 1,695 units (26.5%), from 6,393 to 8,088 dwellings.
Seoul City explained that even after accounting for all demolitions of existing dwellings, an additional 1,695 units are being supplied, demonstrating the tangible supply-boosting effect of urban renewal projects. If the plan for Cheongpa District 3 is finalized, the supply is expected to increase further.
Through urban renewal projects, the city also plans to improve the residential environment by expanding not only dwelling supply but also everyday social infrastructure (SOC) such as roads, parks, public libraries, senior welfare facilities, and youth shelters, along with green space.
Seogye and Cheongpa-dong are representative low-rise residential areas formed in the 1960s, where, despite being adjacent to Seoul Station, the suspension of urban renewal and the shift to urban regeneration projects left aging residential conditions in place for an extended period.
Seoul City plans to develop the area into a flagship residential district on the west side of Seoul Station through fast-track integrated planning and the Moa Town initiative. In the Seogye integrated district, about 50 additional units were secured compared with the previous plan by applying current floor area ratios, and in Cheongpa District 2, the city shortened the project timeline by supporting the direct establishment of the association. The Moa Town initiative at 116 Seogye-dong is being promoted to upgrade the zoning to semi-residential, expanding from 172 to 499 dwellings.
At the site, the mayor checked narrow alleys, steep slopes, and aging dwellings, then held a meeting with residents at the Cheongpa District 2 association office to hear opinions on improving project viability, speeding up permits and approvals, and easing regulations on relocation loan financing.
Analyzing 59 urban renewal projects completed over the past three years, Seoul City found the number of dwellings increased 36.4% from before the projects, with redevelopment yielding a 27.4% net increase and reconstruction a 44.2% net increase.
The city also projected that 310,000 homes will be supplied through 253 urban renewal projects slated to start construction by 2031, and even after accounting for demolitions of existing dwellings, there will be a net increase of 87,000 homes (39.2%). Among these, 48,000 rental dwellings are also planned to be secured.
To speed up urban renewal, Seoul City will expand standard processing timelines, integrated reviews, and parallel processing by stage, and strengthen project-by-project schedule management. The city also again asked the government to improve policies, including easing mandatory rental dwelling ratios in redevelopment, raising floor area ratios for private urban renewal, a three-year temporary suspension of restrictions on transfers of association member status, easing the relocation loan LTV to 70%, and relaxing consent requirements for forming redevelopment associations.
Oh Se-hoon, the Seoul mayor, said, "A home is the most basic space that determines citizens' safety and quality of life," adding, "Seogye and Cheongpa-dong are sites that show the supply effect of urban renewal projects, with a net increase of 1,695 units even excluding demolitions of existing dwellings." He added, "In Seoul, where available land is scarce, urban renewal is effectively the only large-scale dwelling supply solution, so we will see the plans through to groundbreaking and move-ins to ensure citizens can feel the change."