LH's Seoksu Station Area Small-Scale Redevelopment Project Passes Integrated Review for First Time; Project Period Shortened by 16 Months

[Financial News] Korea Land and Housing Corporation (LH) has secured the nation's first approval through an integrated review process that handles the management and architectural plans for a small-scale redevelopment project at the same time.
LH said on the 29th that the Seoksu Station area small-scale housing redevelopment project in Geumcheon District, Seoul, had passed the nation's first integrated review after its management and architectural plans were prepared in parallel.
Management and architectural plans are typically reviewed in sequence. However, by applying the parallel-planning approach proposed by LH to the Seoul Metropolitan Government and the associations, the project period was shortened by 16 months compared with the previous process. The project is notable for using a building-agreement-based integrated development model, under which LH consolidated the small-scale redevelopment management districts of three associations and is jointly implementing the project, thereby securing a stable foundation for development.
The district consists of three zones: the area around Cheonrok Villa in Siheung-dong, the area around Lot 972, and the area around Lots 973 and 974 in Geumcheon District. A total of 586 housing units will be supplied on a site measuring approximately 24,000 square meters. Dongbu Construction was selected as the contractor for all three zones, allowing construction schedules to be aligned and improving efficiency. An integrated underground parking facility and shared amenities will be developed together as one complex. Improvements to local infrastructure are also planned, including widening the road from 6 to 9 meters and establishing a new day-care center to replace the aging facility.
Following the approval, LH plans to proceed with unit sales to association members within the year, relocation and demolition in 2027, and the start of construction in 2028.
An LH official said, "This approval through an integrated review is the first case confirming that approval and permitting periods can also be shortened for small-scale redevelopment projects." The official added, "We will introduce parallel approval procedures and expand fund support for small-scale redevelopment projects nationwide to accelerate housing supply in urban areas."

[email protected] Jung Kyung-soo Reporter