Ogin-dong 'Human Town 2.0' Accelerates... "4-story New Construction Possible, Public Parking Expanded"

[Financial News] Seoul City is actively promoting the 'Human Town 2.0' project around 47 Ogin-dong, Jongno-gu. Construction regulations are relaxed so that residents can directly build or remodel houses, and living convenience facilities such as parking lots and green spaces are greatly increased.
Seoul City announced on the 3rd that it has laid the foundation to actively promote the Human Town 2.0 project and the Ministry of Land, Infrastructure and Transport's 'New Village Project' by changing the maintenance infrastructure and height, number of floors, etc., of the residential environment improvement project area around 47 Ogin-dong, Jongno-gu.
Human Town 2.0 is a Seoul City policy that supports individual construction such as new construction and remodeling of non-apartment houses such as single-family and multi-family houses in low-rise residential areas where full-scale development such as redevelopment and reconstruction is difficult.
This project focuses on relaxing construction regulations and expanding public infrastructure so that each household can build or repair houses independently or jointly without large-scale demolition like redevelopment or reconstruction.
Until now, it has been difficult to build new houses or increase the number of floors in Ogin-dong due to reasons such as natural landscape districts and height districts, but with this maintenance plan change, the building height limit has been relaxed from the existing 3 floors (12m) to 4 floors (16m).
Seoul City plans to create parking lots and pedestrian and green spaces throughout the village using public land so that residents can live without inconvenience. Narrow alleys are widened, and a pleasant environment is created, which is expected to greatly improve residents' satisfaction with their living environment.
Financial support has also been strengthened. New builders are provided with loans of up to 3 billion won, and interest burdens are supported up to 3%. Residents wishing to expand or remodel are also provided with home repair loans tailored to their property status to alleviate the burden.
In addition, in cooperation with the Ministry of Land, Infrastructure and Transport's 'New Village Project', infrastructure construction will be quickly carried out with national funding support (up to 15 billion won).
Seoul City plans to actively promote the project by designating the Human Town 2.0 candidate site plan service in the Ogin-dong area as a special construction zone, construction agreement concentration zone, and remodeling activation zone, and by relaxing standards such as floor area ratio, building coverage ratio, and landscaping area.
In addition, it plans to continue to promote the relaxation of construction regulations in other Human Town 2.0 pilot project sites such as Mangwoo-dong in Jungnang-gu and Guro-dong in Guro-gu to activate the supply of non-apartment houses.
Choi Jin-seok, head of the Seoul City Housing Office, said, "When Human Town 2.0 is fully implemented, public planned development and standard relaxation, and financial support expansion for aging residential areas will activate resident-centered housing maintenance," adding, "This maintenance plan change is expected to greatly contribute to creating a pleasant residential environment for Ogin-dong residents."

ming@fnnews.com Jeon Min-kyung Reporter