Resident consent rate of 75.85% secured just three months after designation as improvement zone; project to create 3,973 units across 25 buildings up to 34 stories tall. Daishin Asset Trust named project operator for Sinrim Zone 5 housing redevelopment.
Gwanak-gu (district mayor Park Jun-hee) officially designated Daishin Asset Trust Co. as the project operator for the Sinrim Zone 5 housing redevelopment project on June 4, a move set to dramatically transform the aging residential environment around Seowon-dong.
The district reviewed the operator designation application and supporting documents and determined that the trust company met all statutory requirements under the Act on the Improvement of Urban Areas and Residential Environments, including consent thresholds from landowners and by land area. The final consent rate stood at 75.85% based on the number of landowners and 64.07% by land area.
With the operator now formally designated, Sinrim Zone 5 — selected as a candidate site under the Seoul Metropolitan Government's Fast-Track Integrated Planning housing redevelopment program in 2022 — has completed the process roughly three months after being designated an improvement zone in February, marking a notably swift pace of progress.
The project site covers approximately 169,000 square meters of hilly residential land around 412 Seowon-dong. The aging housing stock in the zone is set to be replaced by a large-scale complex of 25 buildings ranging from three below-ground floors to 34 above-ground floors, totaling 3,973 units, including 624 rental units.
Sinrim Zone 5 benefits from a strong location: it sits in a transit-oriented area near Seowon Station on the Sinrim Line and is surrounded by natural assets including Byeolbit Naerin Stream and Samseongsan. The district plans to take advantage of the area's 60-meter elevation change to incorporate terrace-style housing that blends with the surrounding landscape, along with street-front commercial units lining the lower-level roads. The district hopes the resulting eco-friendly residential complex will become a landmark for the area.
"Thanks to the strong interest and participation of residents, we were able to move swiftly from improvement zone designation to project operator designation," district mayor Park said. "The district will maintain close communication with residents and the project operator and provide all necessary administrative support to ensure the Sinrim Zone 5 redevelopment is completed successfully."
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