Korea Land and Housing Corporation (LH) announced on the 9th that it has signed business agreements with resident representatives of Bundang's Kkachi Village 4 and Mujigae Village 4 districts to pursue designation of the second Seongnam Bundang Special Redevelopment Zone.
LH signed agreements with the Kkachi Village 4 district resident representatives on March 26 and with the Mujigae Village 4 district resident representatives on the 8th to pursue public-led integrated reconstruction projects. The resident representative groups were formed based on majority consent from landowners and other property owners in accordance with the "Guidelines for Establishing Special Redevelopment Plans for Aging Planned Cities."
This project is being pursued through a resident-proposal method introduced under the government's housing supply expansion measures (September 7 measures) announced last year. Under this approach, residents obtain majority consent from landowners and other property owners to directly propose zone designation to local governments, enabling faster progress compared to the previous public bidding method.
Under the agreements, resident representatives will handle major decision-making for the project and collect consent forms for plan proposals. LH will serve as a facilitator for the overall redevelopment project, including establishing special redevelopment plans, supporting permit and licensing administration, and providing initial project funding.
Based on the current draft redevelopment plan, approximately 1,100 units are expected for Kkachi Village 4 and approximately 1,800 units for Mujigae Village 4, for a total of approximately 2,900 housing units. LH plans to file for "preliminary consultation on special redevelopment zone designation proposals" in July, in line with Seongnam City's schedule for second special redevelopment zone resident proposals.
"Following the Bundang and Gunpo pilot district cases, we will actively communicate with residents in subsequent districts to create optimal redevelopment models," said Kang Oh-soon, LH Regional Balance Division Director. "We will successfully lead the designation of the second special redevelopment zone and contribute to stabilizing the metropolitan housing market."