Up to 25-story, 2,170-unit apartment complex to rise in area around 922, Sinjeong 4-dong, Yangcheon District; 300% FAR to apply

[Financial News] The aging residential area around 922, Sinjeong 4-dong, Yangcheon District, Seoul, will be transformed into an apartment complex of up to 25 stories and 2,170 units.
Yangcheon District said on the 2nd that it has drawn up a redevelopment plan for the area around 922, Sinjeong 4-dong, and will hold a public briefing on the 4th.
The site is adjacent to Sinjeong Station on Seoul Subway Line 5, Yangdong Elementary School and the site of the project to create a park above Gukhoe-daero.
The area was selected in May last year as a candidate site for redevelopment under the Seoul Metropolitan Government’s Rapid Integrated Planning. The plan was finalized in August this year, about a year and three months later, giving the project fresh momentum.
According to the plan, up to 25-story, 24-building multifamily housing with around 2,170 units will be built on a site of approximately 95,475 square meters. The zoning will be upgraded from the existing Class 2 General Residential Zone (7 stories or lower) to a Class 3 General Residential Zone. Applying the legal maximum floor area ratio of 300% has improved the project’s feasibility.
The plan also makes use of the site’s locational advantages by creating a pedestrian and street network connecting the park above Gukhoe-daero, Sinjeong Station and Yangdong Elementary School. New parks will be built near the station and school, and community facilities linked to public pedestrian paths will be provided to improve residents’ mobility and make school commutes safer.
The district plans to hold a public briefing at 10 a.m. on the 4th at Haenuri Town to explain the main points of the redevelopment plan and gather residents’ opinions.
A public inspection of the redevelopment plan decision and proposed redevelopment district designation is also underway. The inspection period runs from October 15 to November 16. The district plans to proceed with the designation after completing relevant procedures, including collecting residents’ consent forms.
Yangcheon District Mayor Lee Gi-jae said, “We will continue to strengthen administrative support so that redevelopment and reconstruction projects underway throughout Yangcheon District can proceed smoothly, and create a pleasant, livable residential environment.”
Meanwhile, the district is pursuing improvement projects, including redevelopment and reconstruction, across its entire area, with a total of around 90,000 households, including those in this project.
Last year, 14 Mokdong Apartment complexes and Sinwol Siyeong Apartments completed the redevelopment district designation process. This year, Mokdong complexes 6, 9 and 13 passed the Seoul Metropolitan Government’s integrated review. The district is also easing development restrictions by revising the district unit plan for the central area of the Sinwol-Sinjeong living zone, and pursuing improvement projects suited to local conditions, including Moa Town and private and public redevelopment.

[email protected] Choi A-young Reporter