Yangpyeong Sindonga Apartment, Transformed into a 49-Story High-Rise Following Yeouido

[Financial News] The Sindonga Apartment in Yangpyeong-dong, Yeongdeungpo-gu, Seoul, will be reborn as a 49-story high-rise apartment by applying the incentive for floor area ratio in semi-industrial areas.
On the 29th, Yeongdeungpo-gu announced that it would apply the increase of the floor area ratio to 400% in semi-industrial areas according to the 'Seoul City Urban and Residential Environment Improvement Basic Plan' to the Sindonga Apartment in Yangpyeong-dong. If the plan for the second half of this year is passed, the floor area ratio of this complex will increase from 299.94% to 399.2%, developing into a high-rise residential complex of 49 stories.
As a result, the number of households will increase from the existing 563 to 786. In particular, the general sales volume is expected to expand from 12 households to about 80, increasing the business feasibility.
In addition, in April, it was the first to receive an exemption from the environmental impact assessment procedures among Seoul's joint housing reconstruction projects, shortening the project implementation approval period by more than two months.
The union president said, "Despite the establishment of the promotion committee in 2009, it took a long time to proceed with the full-scale reconstruction, causing great anxiety among union members and low participation," adding, "With the increase in floor area ratio, more than 80% of union members supported it." 
Meanwhile, in the Yeongdeungpo-gu area, including Yeouido, many super high-rise housing redevelopment projects are being promoted. In Singil 2 District (Singil-dong 205-136 area), a 45-story apartment will be built through the urban public housing complex project, and Dangsan-dong Yuwonjeil 2nd will be developed into a 49-story apartment. Yeouido Gwangjang Apartment and Hanyang Apartment are planned to be rebuilt into 56-story buildings.
Choi Ho-kwon, Mayor of Yeongdeungpo-gu, said, "We will mobilize all administrative power to minimize the burden on residents and promote the reconstruction project quickly by easing unnecessary regulations."




going@fnnews.com Choi Ga-young Reporter