A residential complex of more than 3,000 units rising up to 49 stories is set to be built in Macheon 1 District, Songpa-gu, Seoul.
Seoul Metropolitan Government announced on the 4th that it passed an amended "Macheon 1 Redevelopment Promotion District Plan Revision" at the first Urban Redevelopment Committee meeting held on the 3rd.
Under the revised plan, Block 3-1 in Macheon 1 District will be upgraded from Type 1 to Type 2 General Residential Zone. Blocks 3-2 and 3-3 will be elevated from Type 2 to Type 3 General Residential Zone. The city explained that the residential zone upgrades will increase floor area ratios, expanding supply to over 3,000 units and improving project viability that had previously stalled progress.
The plan reflects deregulation policies announced by the city in July last year, including relaxing base floor area ratios by up to 30% and allowing up to 1.2 times the legal maximum floor area ratio. Macheon 1 District, located around 194-1 Macheon-dong in Songpa-gu, had its redevelopment promotion plan approved in January 2020 but failed to gain momentum due to poor project economics.
Seoul plans to renovate aging public facilities and expand living infrastructure by establishing a post office, senior welfare center, and public postpartum care center. "We expect Macheon 1 District, which has been delayed for an extended period due to insufficient profitability, to normalize and move forward in earnest," said Jinseok Choi, Director of Housing at Seoul Metropolitan Government. "We will provide administrative support in subsequent procedures to shorten timelines and ensure timely housing supply."