Seoul City, 'Temporary Relaxation of Floor Area Ratio for Small-scale Reconstruction' and District Unit Plan Maintenance

[Financial News] Seoul City announced on the 16th that it has approved a modification to the urban management plan decision, which includes relaxing the floor area ratio for small-scale reconstruction and redevelopment by up to 300% for three years.
Seoul City held the 3rd Urban and Architectural Joint Committee Subcommittee the previous day and passed a proposal reflecting the temporary relaxation of the floor area ratio for the 2nd and 3rd general residential areas and the abolition of the non-residential use ratio.
This review reflects the recent changes in Seoul City's urban policy direction. It was promoted as a city-wide comprehensive reorganization method to ensure rapid system implementation and equity between districts.
Looking at the main contents, the urban planning ordinance amendment (deregulation plan No. 33) that temporarily relaxes the floor area ratio for small-scale buildings in the 2nd and 3rd general residential areas to the maximum limit of the enforcement decree for three years was uniformly applied to a total of 244 district unit planning areas, including Garosu-gil.
This is expected to contribute to the expansion of housing supply and the recovery of the construction economy in the city center by applying the ordinance amendment equally to the district unit planning areas.
Additionally, standards for relaxing height restrictions due to temporary relaxation of the floor area ratio were prepared so that the height plans set in existing district unit plans do not become obstacles to the application of relaxation.
Next, the abolition of the non-residential use ratio was additionally reflected in 65 areas where it was applied, including youth housing near stations, according to the comprehensive reorganization standards implemented last May.
As a result, businesses in the relevant areas can choose and apply non-residential standards autonomously as needed.
Thirdly, for 57 areas, including Daechi Land Development District, the floor area ratio system reform plan, which has been promoted since last year, was reflected and decided.
This is an additional measure following the first reflection on 98 areas last May. It includes expanding the items for applying the maximum floor area ratio, expanding incentives for allowable floor area ratio, and raising the standard floor area ratio for quasi-residential and commercial areas.
This reorganization passed the review of the Urban and Architectural Joint Committee Subcommittee and is expected to be finalized and announced in August after going through the re-inspection procedures for each district.
Namjun Cho, head of Seoul City's Urban Space Headquarters, said, "This reorganization was uniformly organized to quickly apply the deregulation plans being promoted by Seoul City to the district unit planning areas," adding, "We will continue to improve and develop district unit planning areas so that they can become the core foundation for realizing Seoul City's policies."

ming@fnnews.com Min-kyung Jeon Reporter