'Moa Housing No. 1' Residents Move In... Oh Se-hoon: "We Will Begin Construction on 40,000 Units by 2031"

[Financial News] Seoul Metropolitan Government has completed the first complex under "Moa Housing," a program introduced as an alternative for improving low-rise residential areas. An aging neighborhood that had struggled to meet redevelopment requirements has been transformed into a comfortable apartment complex in three years through deregulation and an integrated review.
Seoul Metropolitan Government announced on the 28th that Hanyang Yeonrip in Gwangjin District completed construction in August and began full-scale move-ins this month. Hanyang Yeonrip is the "first completed and occupied complex" under the Moa Housing program introduced by Seoul Metropolitan Government in 2022.
The area consisted of 70% semi-basement homes, and 94% of its housing stock was considered aging. However, at 9,877 square meters, it fell short of the 10,000-square-meter minimum for large-scale redevelopment, making it impossible to pursue the project. After the Moa Housing program was applied, the area benefited from deregulation, including raising the maximum building height to 15 stories and increasing the floor area ratio. As a result, the complex grew from 99 units to 215, including units for general sale, a net increase of 116 units.
In particular, the project's very rapid pace stands out. Hanyang Yeonrip passed the integrated review in June 2023 and began construction in February of the following year. It completed the entire process, culminating in completion, in about three years. The project significantly shortened a process that would have taken more than eight years if it had been a large-scale redevelopment project, setting an exemplary precedent for small-scale housing improvement projects.
Oh Se-hoon, mayor of Seoul, visited the site of Moa Housing No. 1 in person that day to congratulate residents and share the results with officials involved in nearby Moa Town projects. Oh said, "It is meaningful that Hanyang Yeonrip, which could not have been improved without Moa Housing, has been transformed into a comfortable apartment complex in just over three years after the integrated review. We will begin construction on 40,000 Moa Housing units by 2031 to further solidify housing stability for Seoul residents."
Meanwhile, Seoul Metropolitan Government has continued improving the system to promote Moa Housing, including abolishing the height restriction in Type 2 general residential zones (limited to seven stories or fewer) in July. Across Seoul, 168 Moa Housing sites have completed the establishment of associations, while 14 have begun construction, indicating that small-scale housing improvement projects are spreading smoothly.

[email protected] Jeon Min-kyung Reporter